Raymond James & Associates Has $51.61 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Raymond James & Associates lifted its position in Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 103,447 shares of the construction company’s stock after purchasing an additional 7,197 shares during the period. Raymond James & Associates’ holdings in Martin Marietta Materials were worth $51,611,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MLM. Fairfield Bush & CO. acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $46,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Martin Marietta Materials by 4.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,276 shares of the construction company’s stock valued at $150,599,000 after acquiring an additional 15,163 shares during the period. Yousif Capital Management LLC raised its position in shares of Martin Marietta Materials by 0.4% in the 1st quarter. Yousif Capital Management LLC now owns 9,391 shares of the construction company’s stock valued at $3,615,000 after acquiring an additional 40 shares during the period. Prudential PLC bought a new stake in Martin Marietta Materials during the 1st quarter worth approximately $456,000. Finally, Cetera Investment Advisers raised its holdings in Martin Marietta Materials by 12.8% during the 1st quarter. Cetera Investment Advisers now owns 950 shares of the construction company’s stock worth $366,000 after buying an additional 108 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

NYSE MLM opened at $611.86 on Thursday. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. Martin Marietta Materials, Inc. has a 12-month low of $332.13 and a 12-month high of $617.08. The company has a market capitalization of $37.83 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The firm’s 50 day moving average is $555.91 and its 200-day moving average is $488.66.

Martin Marietta Materials (NYSE:MLMGet Free Report) last issued its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 earnings per share. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 21.25 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Monday, March 4th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.48%. Martin Marietta Materials’s payout ratio is 15.72%.

Insider Buying and Selling

In related news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now directly owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a filing with the SEC, which is available through this link. In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the transaction, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,724 shares of company stock worth $16,033,760. Insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Raymond James raised their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Stephens raised their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Finally, Citigroup raised their target price on shares of Martin Marietta Materials from $573.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $564.85.

Read Our Latest Research Report on MLM

About Martin Marietta Materials

(Free Report)

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and 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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