PNC Financial Services Group Inc. reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 35,831 shares of the construction company’s stock after selling 535 shares during the quarter. PNC Financial Services Group Inc. owned about 0.06% of Martin Marietta Materials worth $7,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of Martin Marietta Materials by 7.7% during the 2nd quarter. Swiss National Bank now owns 230,250 shares of the construction company’s stock valued at $51,249,000 after acquiring an additional 16,500 shares during the last quarter. Greenwood Capital Associates LLC boosted its position in shares of Martin Marietta Materials by 4.1% during the 2nd quarter. Greenwood Capital Associates LLC now owns 2,641 shares of the construction company’s stock valued at $588,000 after acquiring an additional 105 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Martin Marietta Materials by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 18,153 shares of the construction company’s stock valued at $4,041,000 after acquiring an additional 2,708 shares during the last quarter. Chilton Investment Co. LLC boosted its position in shares of Martin Marietta Materials by 8.7% during the 2nd quarter. Chilton Investment Co. LLC now owns 419,759 shares of the construction company’s stock valued at $93,430,000 after acquiring an additional 33,537 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its position in shares of Martin Marietta Materials by 2.1% during the 2nd quarter. Confluence Investment Management LLC now owns 350,902 shares of the construction company’s stock valued at $78,104,000 after acquiring an additional 7,097 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Several analysts recently weighed in on MLM shares. BidaskClub upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Finally, Jefferies Group LLC set a $166.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $220.57.

In related news, Director John J. Koraleski acquired 500 shares of the stock in a transaction on Friday, August 18th. The shares were bought at an average price of $198.37 per share, with a total value of $99,185.00. Following the completion of the purchase, the director now owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.45% of the company’s stock.

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Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at 198.69 on Friday. The company’s 50-day moving average price is $205.93 and its 200 day moving average price is $218.82. Martin Marietta Materials, Inc. has a 12-month low of $167.06 and a 12-month high of $244.32. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 28.59 and a beta of 1.15.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.13). The company had revenue of $996.30 million for the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.76 dividend on an annualized basis and a yield of 0.89%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.42. Martin Marietta Materials’s payout ratio is 25.29%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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