Steginsky Capital LLC trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 54.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,694 shares of the construction company’s stock after selling 45,890 shares during the quarter. Martin Marietta Materials accounts for 8.2% of Steginsky Capital LLC’s portfolio, making the stock its 7th largest position. Steginsky Capital LLC owned about 0.06% of Martin Marietta Materials worth $8,390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Profund Advisors LLC lifted its position in shares of Martin Marietta Materials by 0.3% in the second quarter. Profund Advisors LLC now owns 1,600 shares of the construction company’s stock worth $356,000 after purchasing an additional 5 shares in the last quarter. First National Bank of Hutchinson lifted its position in shares of Martin Marietta Materials by 0.3% in the second quarter. First National Bank of Hutchinson now owns 2,214 shares of the construction company’s stock worth $505,000 after purchasing an additional 6 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Martin Marietta Materials by 0.3% in the second quarter. CIBC Asset Management Inc now owns 9,431 shares of the construction company’s stock worth $2,099,000 after purchasing an additional 27 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of Martin Marietta Materials by 0.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 4,438 shares of the construction company’s stock worth $988,000 after purchasing an additional 30 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Martin Marietta Materials by 1.3% in the second quarter. Nordea Investment Management AB now owns 2,965 shares of the construction company’s stock worth $660,000 after purchasing an additional 37 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on MLM shares. Jefferies Group LLC set a $166.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Monday, August 21st. Zacks Investment Research lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, BidaskClub raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $220.57.

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In other news, Director John J. Koraleski bought 500 shares of the business’s stock in a transaction on Friday, August 18th. The shares were purchased at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the purchase, the director now owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.45% of the company’s stock.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.13). The firm had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be paid a $0.44 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.76 annualized dividend and a yield of 0.89%. Martin Marietta Materials’s payout ratio is presently 25.29%.

About Martin Marietta Materials

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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