American International Group Inc. Has $4.13 Million Position in Martin Marietta Materials, Inc. (MLM)
American International Group Inc. decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,032 shares of the construction company’s stock after selling 2,467 shares during the quarter. American International Group Inc.’s holdings in Martin Marietta Materials were worth $4,131,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Sun Life Financial INC grew its stake in shares of Martin Marietta Materials by 6,442.9% in the second quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock worth $102,000 after purchasing an additional 451 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Martin Marietta Materials by 130.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after acquiring an additional 305 shares during the last quarter. Dupont Capital Management Corp bought a new stake in Martin Marietta Materials during the second quarter valued at $128,000. Massey Quick Simon & CO. LLC bought a new stake in Martin Marietta Materials during the third quarter valued at $152,000. Finally, Westwood Holdings Group Inc. bought a new stake in Martin Marietta Materials during the second quarter valued at $187,000. 97.45% of the stock is currently owned by institutional investors.
A number of brokerages have commented on MLM. Citigroup reaffirmed a “buy” rating and set a $260.00 price target (down previously from $270.00) on shares of Martin Marietta Materials in a research report on Monday, October 9th. Jefferies Group set a $166.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Monday, August 21st. Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. SunTrust Banks reaffirmed a “buy” rating and set a $228.00 price target on shares of Martin Marietta Materials in a research report on Friday, October 27th. Finally, DA Davidson reaffirmed a “hold” rating and set a $225.00 price target on shares of Martin Marietta Materials in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $242.43.
Shares of Martin Marietta Materials, Inc. (MLM) traded down $4.39 during midday trading on Thursday, hitting $201.51. 590,800 shares of the stock traded hands, compared to its average volume of 637,380. Martin Marietta Materials, Inc. has a 52-week low of $191.09 and a 52-week high of $244.32. The firm has a market capitalization of $12,942.78, a price-to-earnings ratio of 30.01, a P/E/G ratio of 2.15 and a beta of 1.12. The company has a quick ratio of 1.50, a current ratio of 2.73 and a debt-to-equity ratio of 0.38.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $2.39 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.06). Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The company had revenue of $1.02 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company posted $2.49 EPS. Martin Marietta Materials’s revenue for the quarter was down 1.5% on a year-over-year basis. sell-side analysts forecast that Martin Marietta Materials, Inc. will post 6.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.76 annualized dividend and a dividend yield of 0.87%. Martin Marietta Materials’s dividend payout ratio is currently 25.66%.
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Martin Marietta Materials 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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