Bridges Investment Management Inc. boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 20.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,335 shares of the construction company’s stock after purchasing an additional 3,974 shares during the period. Bridges Investment Management Inc.’s holdings in Martin Marietta Materials were worth $5,212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. BlackRock Inc. lifted its position in shares of Martin Marietta Materials by 1.3% in the second quarter. BlackRock Inc. now owns 3,962,118 shares of the construction company’s stock valued at $884,859,000 after acquiring an additional 51,674 shares in the last quarter. Morgan Stanley lifted its position in shares of Martin Marietta Materials by 27.9% in the second quarter. Morgan Stanley now owns 3,492,115 shares of the construction company’s stock valued at $779,894,000 after acquiring an additional 760,872 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Martin Marietta Materials by 0.5% in the first quarter. Baillie Gifford & Co. now owns 2,214,958 shares of the construction company’s stock valued at $459,161,000 after acquiring an additional 11,996 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Martin Marietta Materials by 2.4% in the first quarter. Principal Financial Group Inc. now owns 1,955,132 shares of the construction company’s stock valued at $405,300,000 after acquiring an additional 45,493 shares in the last quarter. Finally, Select Equity Group L.P. lifted its position in shares of Martin Marietta Materials by 6.6% in the second quarter. Select Equity Group L.P. now owns 1,937,854 shares of the construction company’s stock valued at $432,781,000 after acquiring an additional 119,936 shares in the last quarter.

NYSE:MLM opened at $193.13 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $12.13 billion, a P/E ratio of 26.90, a PEG ratio of 1.43 and a beta of 1.06. Martin Marietta Materials, Inc. has a 12 month low of $188.34 and a 12 month high of $241.33.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, July 26th. The construction company reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.45. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.27 earnings per share. equities research analysts anticipate that Martin Marietta Materials, Inc. will post 9.44 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be given a $0.48 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, August 31st. Martin Marietta Materials’s payout ratio is currently 26.74%.

Several brokerages have recently commented on MLM. Zacks Investment Research upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 price objective on the stock in a research report on Thursday, June 14th. Bank of America lowered their price objective on Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. Barclays set a $232.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research report on Thursday, May 31st. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $241.22.

In other news, Director Stephen P. Zelnak, Jr. bought 3,500 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The shares were bought at an average cost of $202.87 per share, for a total transaction of $710,045.00. Following the completion of the transaction, the director now owns 21,880 shares of the company’s stock, valued at $4,438,795.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald A. Mccunniff sold 2,250 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total value of $459,742.50. Following the completion of the sale, the senior vice president now owns 12,649 shares in the company, valued at $2,584,570.17. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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

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