Martin Marietta Materials, Inc. (MLM) Position Lessened by Mackay Shields LLC
Mackay Shields LLC reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,353 shares of the construction company’s stock after selling 696 shares during the quarter. Mackay Shields LLC’s holdings in Martin Marietta Materials were worth $1,607,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLM. Baillie Gifford & Co. grew its position in Martin Marietta Materials by 48.5% in the 3rd quarter. Baillie Gifford & Co. now owns 3,292,027 shares of the construction company’s stock valued at $598,984,000 after acquiring an additional 1,075,314 shares in the last quarter. Select Equity Group L.P. grew its position in Martin Marietta Materials by 27.2% in the 3rd quarter. Select Equity Group L.P. now owns 2,463,993 shares of the construction company’s stock valued at $448,324,000 after acquiring an additional 526,139 shares in the last quarter. Pactiv General Employee Benefit Trust acquired a new position in Martin Marietta Materials in the 4th quarter valued at about $53,532,000. Morgan Stanley grew its position in Martin Marietta Materials by 5.0% in the 3rd quarter. Morgan Stanley now owns 3,665,846 shares of the construction company’s stock valued at $666,999,000 after acquiring an additional 173,731 shares in the last quarter. Finally, Carillon Tower Advisers Inc. grew its position in Martin Marietta Materials by 50.4% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 426,051 shares of the construction company’s stock valued at $77,520,000 after acquiring an additional 142,799 shares in the last quarter.
Shares of MLM opened at $192.11 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.74 and a quick ratio of 0.89. The stock has a market capitalization of $11.99 billion, a PE ratio of 23.75, a P/E/G ratio of 1.67 and a beta of 1.12. Martin Marietta Materials, Inc. has a 1 year low of $150.75 and a 1 year high of $232.88.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 4th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, March 1st. Martin Marietta Materials’s payout ratio is 23.73%.
In other Martin Marietta Materials news, Director Sue W. Cole sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $195.07, for a total value of $292,605.00. Following the completion of the sale, the director now owns 20,933 shares in the company, valued at $4,083,400.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Donald A. Mccunniff sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $190.90, for a total value of $125,994.00. Following the completion of the sale, the senior vice president now owns 15,349 shares of the company’s stock, valued at approximately $2,930,124.10. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.
Several research firms have weighed in on MLM. Zacks Investment Research downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. JPMorgan Chase & Co. began coverage on Martin Marietta Materials in a research report on Thursday. They issued an “overweight” rating and a $225.00 target price for the company. Citigroup set a $211.00 target price on Martin Marietta Materials and gave the company a “buy” rating in a research report on Thursday, February 14th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research report on Wednesday, December 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $232.00 target price on shares of Martin Marietta Materials in a research report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Martin Marietta Materials has an average rating of “Buy” and a consensus target price of $218.08.
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About Martin Marietta Materials
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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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