Martin Marietta Materials, Inc. (MLM) Position Reduced by Credit Agricole S A

Credit Agricole S A cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 37.7% during the first quarter, Holdings Channel reports. The institutional investor owned 16,603 shares of the construction company’s stock after selling 10,064 shares during the period. Credit Agricole S A’s holdings in Martin Marietta Materials were worth $3,623,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. AXA raised its position in shares of Martin Marietta Materials by 22.0% in the first quarter. AXA now owns 12,200 shares of the construction company’s stock valued at $2,663,000 after buying an additional 2,200 shares in the last quarter. Comerica Securities Inc. bought a new position in shares of Martin Marietta Materials during the first quarter valued at approximately $843,000. Asset Management One Co. Ltd. raised its position in shares of Martin Marietta Materials by 27.4% in the first quarter. Asset Management One Co. Ltd. now owns 132,763 shares of the construction company’s stock valued at $28,678,000 after buying an additional 28,575 shares in the last quarter. Tredje AP fonden raised its position in shares of Martin Marietta Materials by 93.1% in the first quarter. Tredje AP fonden now owns 6,710 shares of the construction company’s stock valued at $1,468,000 after buying an additional 3,235 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Martin Marietta Materials by 102.8% in the first quarter. Neuberger Berman Group LLC now owns 2,584 shares of the construction company’s stock valued at $564,000 after buying an additional 1,310 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

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

Shares of Martin Marietta Materials, Inc. (NYSE MLM) traded up 0.40% during trading on Friday, hitting $230.33. 639,908 shares of the stock were exchanged. Martin Marietta Materials, Inc. has a one year low of $167.06 and a one year high of $244.32. The stock has a market cap of $14.46 billion, a PE ratio of 34.76 and a beta of 1.21. The stock’s 50 day moving average price is $230.65 and its 200 day moving average price is $223.31.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, May 2nd. The construction company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. Martin Marietta Materials had a return on equity of 10.32% and a net margin of 10.91%. The business had revenue of $791.70 million during the quarter, compared to the consensus estimate of $729.28 million. During the same period in the previous year, the business earned $0.69 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.73%. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.42%.

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Several brokerages have commented on MLM. BidaskClub upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday. Stephens increased their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, May 4th. Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Finally, Cleveland Research upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a research note on Friday, March 31st. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $229.29.

In other news, CFO Anne H. Lloyd sold 6,472 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $238.73, for a total value of $1,545,060.56. Following the completion of the sale, the chief financial officer now directly owns 69,941 shares in the company, valued at approximately $16,697,014.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman C Howard Nye sold 10,258 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $239.16, for a total value of $2,453,303.28. Following the transaction, the chairman now owns 143,038 shares of the company’s stock, valued at $34,208,968.08. The disclosure for this sale can be found here. Insiders sold a total of 18,121 shares of company stock valued at $4,332,440 over the last quarter. Company insiders own 1.06% of the company’s stock.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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