Martin Marietta Materials, Inc. $MLM Shares Sold by Amundi

Amundi lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 93.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,764 shares of the construction company’s stock after selling 1,590,652 shares during the period. Amundi owned approximately 0.19% of Martin Marietta Materials worth $64,674,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Martin Marietta Materials in the second quarter worth about $233,811,000. American Century Companies Inc. increased its stake in Martin Marietta Materials by 1,880.3% during the 1st quarter. American Century Companies Inc. now owns 369,382 shares of the construction company’s stock valued at $176,613,000 after buying an additional 350,729 shares during the period. Nuveen LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $73,020,000. Hawk Ridge Capital Management LP lifted its stake in shares of Martin Marietta Materials by 111.5% in the 1st quarter. Hawk Ridge Capital Management LP now owns 191,575 shares of the construction company’s stock worth $91,598,000 after acquiring an additional 100,975 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of Martin Marietta Materials by 2,500.0% in the 1st quarter. 1832 Asset Management L.P. now owns 102,882 shares of the construction company’s stock worth $49,191,000 after acquiring an additional 98,925 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $622.00 on Tuesday. The stock’s fifty day simple moving average is $619.38 and its 200 day simple moving average is $594.83. The stock has a market capitalization of $37.51 billion, a price-to-earnings ratio of 32.79 and a beta of 1.16. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $665.18.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 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 Wednesday, December 31st. Stockholders of record on Monday, December 1st will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.50%.

Analyst Ratings Changes

A number of research firms recently commented on MLM. JPMorgan Chase & Co. raised their price objective on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Raymond James Financial lifted their price target on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. UBS Group boosted their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their target price on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $647.81.

Martin Marietta Materials Company Profile

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.