Axa S.A. Sells 1,069 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Axa S.A. reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 13.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,141 shares of the construction company’s stock after selling 1,069 shares during the period. Axa S.A.’s holdings in Martin Marietta Materials were worth $3,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MLM. Price T Rowe Associates Inc. MD grew its stake in shares of Martin Marietta Materials by 114.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after purchasing an additional 523,038 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of Martin Marietta Materials by 4,244.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after purchasing an additional 270,802 shares during the period. Vanguard Group Inc. grew its stake in shares of Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after purchasing an additional 69,701 shares during the period. M&G Plc acquired a new position in shares of Martin Marietta Materials in the 1st quarter worth approximately $41,142,000. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Martin Marietta Materials by 415,284.6% in the 4th quarter. 1832 Asset Management L.P. now owns 54,000 shares of the construction company’s stock worth $26,941,000 after acquiring an additional 53,987 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Jefferies Financial Group increased their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup decreased their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Finally, Stephens decreased their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $629.82.

Martin Marietta Materials Stock Down 0.1 %

Shares of MLM opened at $539.11 on Monday. The firm has a market capitalization of $33.23 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 3.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The business’s fifty day moving average price is $538.34 and its two-hundred day moving average price is $564.74. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the business earned $5.60 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.36%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.