Alps Advisors Inc. Buys New Shares in Martin Marietta Materials, Inc. (NYSE:MLM)

Alps Advisors Inc. bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,365 shares of the construction company’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC increased its stake in Martin Marietta Materials by 13.2% in the third quarter. CWM LLC now owns 351 shares of the construction company’s stock valued at $96,000 after acquiring an additional 41 shares during the last quarter. Commonwealth Bank of Australia grew its stake in shares of Martin Marietta Materials by 28.1% during the second quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock valued at $43,000 after buying an additional 43 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Martin Marietta Materials by 0.7% during the second quarter. D.A. Davidson & CO. now owns 6,563 shares of the construction company’s stock valued at $1,510,000 after buying an additional 44 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Martin Marietta Materials by 4.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,070 shares of the construction company’s stock valued at $246,000 after buying an additional 50 shares during the last quarter. Finally, Hartford Investment Management Co. grew its stake in shares of Martin Marietta Materials by 0.8% during the second quarter. Hartford Investment Management Co. now owns 6,851 shares of the construction company’s stock valued at $1,576,000 after buying an additional 53 shares during the last quarter.

Martin Marietta Materials stock opened at $257.39 on Thursday. 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 has a 50-day moving average of $264.86 and a 200-day moving average of $241.62. The firm has a market cap of $16.06 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.35 and a beta of 1.13. Martin Marietta Materials, Inc. has a 1-year low of $160.60 and a 1-year high of $275.99.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, October 29th. The construction company reported $3.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.50 by $0.46. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.33 billion. Martin Marietta Materials had a net margin of 12.35% and a return on equity of 11.52%. Martin Marietta Materials’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.85 earnings per share. Research analysts forecast that Martin Marietta Materials, Inc. will post 9.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.85%. Martin Marietta Materials’s dividend payout ratio is currently 27.19%.

A number of brokerages have recently issued reports on MLM. DA Davidson raised their price objective on Martin Marietta Materials to $310.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. ValuEngine cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Longbow Research set a $265.00 price objective on Martin Marietta Materials and gave the company a “buy” rating in a research note on Friday, August 30th. Jefferies Financial Group raised their price objective 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. Finally, JPMorgan Chase & Co. raised their price objective 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. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Martin Marietta Materials has an average rating of “Hold” and an average price target of $259.38.

In other news, CEO C Howard Nye sold 7,440 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $253.52, for a total transaction of $1,886,188.80. Following the completion of the sale, the chief executive officer now directly owns 154,544 shares in the company, valued at $39,179,994.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

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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