Nationwide Fund Advisors raised its position in Martin Marietta Materials Inc. (NYSE:MLM) by 122.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,996 shares of the company’s stock after buying an additional 22,596 shares during the period. Nationwide Fund Advisors owned about 0.06% of Martin Marietta Materials worth $7,871,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. TimesSquare Capital Management LLC increased its position 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 last quarter. JPMorgan Chase & Co. increased its position 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 last quarter. Massmutual Trust Co. FSB ADV increased its position in Martin Marietta Materials by 6.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,570 shares of the company’s stock valued at $250,000 after buying an additional 98 shares during the last quarter. BlackRock Group LTD increased its position in Martin Marietta Materials by 1.3% in the first quarter. BlackRock Group LTD now owns 444,005 shares of the company’s stock valued at $70,823,000 after buying an additional 5,704 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Martin Marietta Materials by 5.0% in the first quarter. Franklin Resources Inc. now owns 1,181,664 shares of the company’s stock valued at $188,491,000 after buying an additional 56,163 shares during the last quarter. Hedge funds and other institutional investors own 97.18% of the company’s stock.

Martin Marietta Materials Inc. (NYSE:MLM) traded down 0.23% during midday trading on Friday, hitting $181.50. The company’s stock had a trading volume of 450,477 shares. Martin Marietta Materials Inc. has a 12 month low of $108.31 and a 12 month high of $206.36. The firm has a market cap of $11.51 billion, a P/E ratio of 32.34 and a beta of 1.37. The company’s 50 day moving average price is $187.96 and its 200 day moving average price is $181.12.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.02 by $0.12. The firm had revenue of $915.40 million for the quarter, compared to the consensus estimate of $953.30 million. Martin Marietta Materials had a net margin of 9.96% and a return on equity of 9.36%. Martin Marietta Materials’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. Analysts expect that Martin Marietta Materials Inc. will post $7.23 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.68 annualized dividend and a dividend yield of 0.92%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.40. Martin Marietta Materials’s dividend payout ratio (DPR) is 30.05%.

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

In other Martin Marietta Materials news, Director David G. Maffucci sold 6,779 shares of Martin Marietta Materials stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $199.90, for a total value of $1,355,122.10. Following the completion of the sale, the director now owns 20,326 shares of the company’s stock, valued at approximately $4,063,167.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 5,830 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $199.98, for a total transaction of $1,165,883.40. Following the completion of the sale, the executive vice president now directly owns 42,588 shares of the company’s stock, valued at approximately $8,516,748.24. The disclosure for this sale can be found here. Corporate 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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