ProShare Advisors LLC boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,082 shares of the construction company’s stock after acquiring an additional 179 shares during the period. ProShare Advisors LLC’s holdings in Martin Marietta Materials were worth $2,689,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Martin Marietta Materials by 3.3% in the first quarter. Vanguard Group Inc. now owns 6,229,398 shares of the construction company’s stock worth $1,359,565,000 after acquiring an additional 198,069 shares during the period. BlackRock Inc. raised its position in Martin Marietta Materials by 2.2% in the second quarter. BlackRock Inc. now owns 3,817,803 shares of the construction company’s stock worth $849,766,000 after acquiring an additional 81,136 shares during the period. Egerton Capital UK LLP raised its position in Martin Marietta Materials by 329.1% in the second quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock worth $438,007,000 after acquiring an additional 1,509,258 shares during the period. Aristotle Capital Management LLC raised its position in Martin Marietta Materials by 4.8% in the first quarter. Aristotle Capital Management LLC now owns 1,544,722 shares of the construction company’s stock worth $337,136,000 after acquiring an additional 70,095 shares during the period. Finally, Principal Financial Group Inc. raised its position in Martin Marietta Materials by 3.4% in the second quarter. Principal Financial Group Inc. now owns 1,378,563 shares of the construction company’s stock worth $306,840,000 after acquiring an additional 45,402 shares during the period. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) opened at 198.69 on Monday. The company 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, Inc. has a 52-week low of $167.06 and a 52-week high of $244.32. The stock has a 50 day moving average of $205.93 and a 200 day moving average of $218.82.

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

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

MLM has been the topic of several research reports. Zacks Investment Research lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. BidaskClub raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Jefferies Group LLC set a $166.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $220.57.

In other Martin Marietta Materials news, Director John J. Koraleski acquired 500 shares of the stock in a transaction dated 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 directly owns 1,439 shares of the company’s stock, valued at $285,454.43. The acquisition was disclosed in a filing with the SEC, which is available at this link. 8.45% of the stock is owned by corporate insiders.

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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.

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

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