Keybank National Association OH cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 23.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,804 shares of the construction company’s stock after selling 1,438 shares during the quarter. Keybank National Association OH’s holdings in Martin Marietta Materials were worth $1,317,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Destination Wealth Management increased its stake in shares of Martin Marietta Materials by 825.0% in the second quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock valued at $26,000 after buying an additional 99 shares in the last quarter. Rational Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 2,160.0% during the 2nd quarter. Rational Advisors LLC now owns 113 shares of the construction company’s stock valued at $26,000 after purchasing an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at about $31,000. Capital Investment Advisory Services LLC lifted its holdings in shares of Martin Marietta Materials by 153.3% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 152 shares of the construction company’s stock valued at $34,000 after purchasing an additional 92 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its holdings in shares of Martin Marietta Materials by 28.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock valued at $43,000 after purchasing an additional 43 shares in the last quarter.
Shares of NYSE:MLM traded down $0.60 during trading on Tuesday, hitting $255.42. 7,364 shares of the company were exchanged, compared to its average volume of 702,006. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 2.35 and a beta of 1.13. Martin Marietta Materials, Inc. has a fifty-two week low of $160.60 and a fifty-two week high of $275.99. The firm has a fifty day moving average price of $265.29 and a two-hundred day moving average price of $241.18. The company has a current ratio of 2.29, a quick ratio of 1.35 and a debt-to-equity ratio of 0.60.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, November 29th. Martin Marietta Materials’s payout ratio is presently 27.19%.
In related news, CEO C Howard Nye sold 7,440 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $253.52, for a total transaction of $1,886,188.80. Following the transaction, the chief executive officer now directly owns 154,544 shares of the company’s stock, valued at approximately $39,179,994.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on the company. Exane BNP Paribas assumed coverage on Martin Marietta Materials in a report on Wednesday, October 9th. They set an “underperform” rating on the stock. Bank of America upgraded Martin Marietta Materials from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 15th. Jefferies Financial Group boosted their target price on Martin Marietta Materials from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Martin Marietta Materials from $265.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, SunTrust Banks boosted their target price on Martin Marietta Materials from $285.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Martin Marietta Materials presently has a consensus rating of “Hold” and an average target price of $259.38.
Martin Marietta Materials Profile
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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