Vanguard Group Inc. raised its position in Martin Marietta Materials Inc. (NYSE:MLM) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,793,679 shares of the company’s stock after buying an additional 84,814 shares during the period. Vanguard Group Inc. owned about 9.13% of Martin Marietta Materials worth $1,112,385,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Martin Marietta Materials by 39.1% in the first quarter. JPMorgan Chase & Co. now owns 4,409,463 shares of the company’s stock valued at $703,352,000 after buying an additional 1,240,607 shares during the period. Norges Bank purchased a new stake in Martin Marietta Materials during the fourth quarter valued at about $72,427,000. Egerton Capital UK LLP raised its stake in Martin Marietta Materials by 53.4% in the second quarter. Egerton Capital UK LLP now owns 1,472,952 shares of the company’s stock valued at $282,807,000 after buying an additional 512,574 shares during the period. TimesSquare Capital Management LLC raised its stake in Martin Marietta Materials by 243.0% in the first quarter. TimesSquare Capital Management LLC now owns 591,600 shares of the company’s stock valued at $94,366,000 after buying an additional 419,100 shares during the period. Finally, Capital Growth Management LP purchased a new stake in Martin Marietta Materials during the first quarter valued at about $53,436,000. 97.17% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Inc. (NYSE:MLM) traded down 0.81% during trading on Tuesday, hitting $173.56. 77,751 shares of the company traded hands. Martin Marietta Materials Inc. has a 12-month low of $108.31 and a 12-month high of $206.36. The company has a market capitalization of $11.01 billion, a P/E ratio of 30.92 and a beta of 1.37. The stock has a 50 day moving average price of $189.66 and a 200 day moving average price of $180.94.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.02 by $0.12. Martin Marietta Materials had a net margin of 9.96% and a return on equity of 9.36%. The company had revenue of $915.40 million for the quarter, compared to the consensus estimate of $953.30 million. During the same quarter last year, the business posted $1.22 earnings per share. Martin Marietta Materials’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that Martin Marietta Materials Inc. will post $7.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 1st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.96%. Martin Marietta Materials’s dividend payout ratio (DPR) is 30.05%.

Several analysts have issued reports on MLM shares. Zacks Investment Research raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $201.00 price target on the stock in a research report on Tuesday, June 28th. Bank of America Corp. reiterated a “buy” rating on shares of Martin Marietta Materials in a report on Friday, June 17th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $209.00 price objective (up from $191.00) on shares of Martin Marietta Materials in a report on Wednesday, June 8th. DA Davidson upped their price objective on shares of Martin Marietta Materials from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Finally, Jefferies Group reiterated a “hold” rating on shares of Martin Marietta Materials in a report on Wednesday, August 31st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $201.86.

In other news, Director David G. Maffucci sold 6,779 shares of Martin Marietta Materials stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $199.90, for a total transaction of $1,355,122.10. Following the sale, the director now directly owns 20,326 shares in the company, valued at approximately $4,063,167.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 5,830 shares of Martin Marietta Materials stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $199.98, for a total value of $1,165,883.40. Following the sale, the executive vice president now owns 42,588 shares in the company, valued at $8,516,748.24. The disclosure for this sale can be found here. 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) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.

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