Southeast Asset Advisors Inc. Acquires 766 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Southeast Asset Advisors Inc. raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 18,026 shares of the construction company’s stock after buying an additional 766 shares during the quarter. Martin Marietta Materials makes up about 1.1% of Southeast Asset Advisors Inc.’s holdings, making the stock its 15th largest holding. Southeast Asset Advisors Inc.’s holdings in Martin Marietta Materials were worth $4,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. National Pension Service raised its stake in Martin Marietta Materials by 6.5% during the 2nd quarter. National Pension Service now owns 86,045 shares of the construction company’s stock valued at $19,800,000 after buying an additional 5,231 shares during the last quarter. Rampart Investment Management Company LLC raised its stake in Martin Marietta Materials by 166.7% during the 2nd quarter. Rampart Investment Management Company LLC now owns 1,515 shares of the construction company’s stock valued at $349,000 after buying an additional 947 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Martin Marietta Materials by 9.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 31,806 shares of the construction company’s stock valued at $7,320,000 after buying an additional 2,841 shares during the last quarter. Castleark Management LLC raised its stake in Martin Marietta Materials by 85.1% during the 2nd quarter. Castleark Management LLC now owns 12,115 shares of the construction company’s stock valued at $2,788,000 after buying an additional 5,570 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Martin Marietta Materials by 16.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 143,980 shares of the construction company’s stock valued at $33,131,000 after buying an additional 20,067 shares during the last quarter.

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 2,821 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $246.93, for a total value of $696,589.53. Following the completion of the sale, the executive vice president now owns 57,149 shares in the company, valued at approximately $14,111,802.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman C Howard Nye sold 11,224 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $243.66, for a total value of $2,734,839.84. Following the completion of the sale, the chairman now owns 158,885 shares of the company’s stock, valued at approximately $38,713,919.10. The disclosure for this sale can be found here. Insiders sold a total of 21,485 shares of company stock valued at $5,317,618 over the last 90 days. 0.73% of the stock is currently owned by company insiders.

Shares of NYSE:MLM traded down $1.56 during midday trading on Monday, hitting $262.48. The company had a trading volume of 15,971 shares, compared to its average volume of 498,141. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.08. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 2.44 and a beta of 1.11. Martin Marietta Materials, Inc. has a 12-month low of $150.75 and a 12-month high of $264.66. The company has a fifty day moving average of $249.55 and a two-hundred day moving average of $222.19.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $3.01 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.07). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Martin Marietta Materials had a return on equity of 10.35% and a net margin of 11.37%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $3.25 earnings per share. Research analysts expect that Martin Marietta Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.84%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, August 30th. Martin Marietta Materials’s dividend payout ratio is 27.19%.

A number of brokerages have weighed in on MLM. JPMorgan Chase & Co. boosted their target price on shares of Martin Marietta Materials from $265.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. ValuEngine upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group boosted their target price on shares of Martin Marietta Materials from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Longbow Research set a $265.00 target price on shares of Martin Marietta Materials and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, DA Davidson upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $227.22 target price for the company in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $230.66.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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