Iridian Asset Management LLC CT grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,901,719 shares of the construction company’s stock after buying an additional 94,983 shares during the period. Martin Marietta Materials accounts for 3.5% of Iridian Asset Management LLC CT’s holdings, making the stock its 7th biggest position. Iridian Asset Management LLC CT owned 3.02% of Martin Marietta Materials worth $346,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. raised its holdings 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 worth $884,859,000 after buying an additional 51,674 shares during the last quarter. Morgan Stanley raised its holdings 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 worth $779,894,000 after buying an additional 760,872 shares during the last quarter. Select Equity Group L.P. raised its holdings 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 worth $432,781,000 after buying an additional 119,936 shares during the last quarter. FMR LLC raised its holdings in shares of Martin Marietta Materials by 37.9% during the second quarter. FMR LLC now owns 1,831,320 shares of the construction company’s stock worth $408,988,000 after purchasing an additional 503,126 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Martin Marietta Materials by 6.1% during the third quarter. Bank of New York Mellon Corp now owns 1,068,260 shares of the construction company’s stock worth $194,369,000 after purchasing an additional 61,606 shares during the last quarter.

Several brokerages recently issued reports on MLM. Stephens reissued a “hold” rating and set a $233.00 target price on shares of Martin Marietta Materials in a report on Wednesday, August 1st. ValuEngine raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Barclays set a $215.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Friday, September 28th. DA Davidson set a $200.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Thursday, October 11th. Finally, Citigroup set a $231.00 target price on shares of Martin Marietta Materials and gave the stock a “buy” rating in a report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Martin Marietta Materials presently has an average rating of “Hold” and a consensus price target of $219.11.

Shares of Martin Marietta Materials stock opened at $188.97 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.88 and a quick ratio of 1.04. Martin Marietta Materials, Inc. has a 1 year low of $150.75 and a 1 year high of $241.33. The firm has a market cap of $11.85 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.89 and a beta of 1.09.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, November 6th. The construction company reported $2.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.21. Martin Marietta Materials had a net margin of 17.95% and a return on equity of 10.78%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company posted $2.39 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 8.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 3rd will be given a dividend of $0.48 per share. The ex-dividend date is Friday, November 30th. This represents a $1.92 annualized dividend and a yield of 1.02%. Martin Marietta Materials’s dividend payout ratio is presently 26.74%.

In related news, SVP Donald A. Mccunniff sold 1,476 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $185.50, for a total transaction of $273,798.00. Following the sale, the senior vice president now owns 14,467 shares in the company, valued at $2,683,628.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Donald A. Mccunniff sold 2,250 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total transaction of $459,742.50. Following the sale, the senior vice president now owns 12,649 shares in the company, valued at approximately $2,584,570.17. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

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Martin Marietta Materials Company 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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