Pennsylvania Trust Co bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,655 shares of the construction company’s stock, valued at approximately $540,000.
Other institutional investors and hedge funds have also modified their holdings of the company. JOYN Advisors Inc. boosted its stake in Martin Marietta Materials by 472.7% during the 4th quarter. JOYN Advisors Inc. now owns 189 shares of the construction company’s stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Martin Marietta Materials by 397.4% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 189 shares of the construction company’s stock worth $32,000 after buying an additional 151 shares during the last quarter. Enlightenment Research LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth $34,000. Bogart Wealth LLC boosted its stake in shares of Martin Marietta Materials by 76.9% in the 4th quarter. Bogart Wealth LLC now owns 230 shares of the construction company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Finally, First Personal Financial Services boosted its stake in shares of Martin Marietta Materials by 30.3% in the 4th quarter. First Personal Financial Services now owns 271 shares of the construction company’s stock worth $47,000 after buying an additional 63 shares during the last quarter.
A number of equities analysts have recently issued reports on MLM shares. Citigroup dropped their price target on Martin Marietta Materials from $231.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, January 3rd. Deutsche Bank started coverage on Martin Marietta Materials in a research note on Thursday, January 3rd. They issued a “buy” rating and a $198.00 price target on the stock. Stephens upgraded Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research note on Friday, February 15th. Jefferies Financial Group restated a “buy” rating and issued a $232.00 price target on shares of Martin Marietta Materials in a research note on Tuesday, January 29th. Finally, JPMorgan Chase & Co. started coverage on Martin Marietta Materials in a research note on Thursday, March 21st. They issued an “overweight” rating and a $225.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $217.36.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, February 12th. The construction company reported $1.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.21). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Martin Marietta Materials had a net margin of 11.07% and a return on equity of 10.31%. Martin Marietta Materials’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 earnings per share. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 8.94 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.92 annualized dividend and a yield of 0.91%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 23.73%.
In related news, SVP Donald A. Mccunniff sold 660 shares of Martin Marietta Materials stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total transaction of $125,994.00. Following the transaction, the senior vice president now directly owns 15,349 shares in the company, valued at $2,930,124.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sue W. Cole sold 1,500 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $195.07, for a total value of $292,605.00. Following the transaction, the director now owns 20,933 shares in the company, valued at $4,083,400.31. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.
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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