Bridges Investment Management Inc. Grows Position in Martin Marietta Materials, Inc. (MLM)

Bridges Investment Management Inc. increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 20.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,335 shares of the construction company’s stock after buying an additional 3,974 shares during the quarter. Bridges Investment Management Inc.’s holdings in Martin Marietta Materials were worth $5,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wells Fargo & Company MN lifted its holdings in shares of Martin Marietta Materials by 8.3% in the first quarter. Wells Fargo & Company MN now owns 216,400 shares of the construction company’s stock worth $44,860,000 after buying an additional 16,575 shares in the last quarter. Mackay Shields LLC purchased a new position in shares of Martin Marietta Materials in the first quarter worth $2,193,000. Victory Capital Management Inc. lifted its holdings in shares of Martin Marietta Materials by 14.9% in the first quarter. Victory Capital Management Inc. now owns 23,829 shares of the construction company’s stock worth $4,940,000 after buying an additional 3,086 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Martin Marietta Materials by 17.1% in the first quarter. State of Wisconsin Investment Board now owns 57,773 shares of the construction company’s stock worth $11,976,000 after buying an additional 8,432 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Martin Marietta Materials by 4.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 229,654 shares of the construction company’s stock worth $47,608,000 after buying an additional 9,407 shares in the last quarter.

MLM stock traded down $3.39 during mid-day trading on Friday, reaching $182.61. 597,043 shares of the stock traded hands, compared to its average volume of 654,863. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 0.60. Martin Marietta Materials, Inc. has a one year low of $180.54 and a one year high of $241.33. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, July 26th. The construction company reported $3.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.80 by $0.45. Martin Marietta Materials had a net margin of 17.82% and a return on equity of 10.52%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $2.27 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 9.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th were given a dividend of $0.48 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, August 31st. This represents a $1.92 dividend on an annualized basis and a yield of 1.05%. Martin Marietta Materials’s payout ratio is 26.74%.

Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 target price on the stock in a report on Thursday, June 14th. Bank of America reduced their price target on shares of Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. ValuEngine upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Finally, Citigroup reduced their price target on shares of Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, July 30th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $239.33.

In related news, Director Stephen P. Zelnak, Jr. purchased 3,500 shares of the business’s stock in a transaction dated Monday, July 30th. The shares were purchased at an average cost of $202.87 per share, for a total transaction of $710,045.00. Following the completion of the acquisition, the director now owns 21,880 shares in the company, valued at approximately $4,438,795.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Donald A. Mccunniff sold 2,250 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total transaction of $459,742.50. Following the completion of the transaction, 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. Insiders own 0.75% of the company’s stock.

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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