Trade Report: The Smithfield Trust Co. invests in Martin Marietta Materials Inc. (MLM) Shares

The Smithfield Trust Co. invests in Martin Marietta Materials Inc. (MLM) Shares

Smithfield Trust Co. increased its position in Martin Marietta Materials Inc. (NYSE:MLM) by 163.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,952 shares of the company’s stock after buying an additional 1,210 shares during the period. Smithfield Trust Co.’s holdings in Martin Marietta Materials were worth $375,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp increased its position in Martin Marietta Materials by 0.5% in the first quarter. State Street Corp now owns 2,550,973 shares of the company’s stock worth $406,915,000 after buying an additional 11,898 shares in the last quarter. Caledonia Private Investments Pty Ltd increased its position in Martin Marietta Materials by 20.0% in the first quarter. Caledonia Private Investments Pty Ltd now owns 519,453 shares of the company’s stock worth $82,858,000 after buying an additional 86,658 shares in the last quarter. BlackRock Group LTD increased its position in Martin Marietta Materials by 1.3% in the first quarter. BlackRock Group LTD now owns 444,005 shares of the company’s stock worth $70,823,000 after buying an additional 5,704 shares in the last quarter. Wellington Management Group LLP increased its position in Martin Marietta Materials by 0.6% in the first quarter. Wellington Management Group LLP now owns 341,521 shares of the company’s stock worth $54,477,000 after buying an additional 2,045 shares in the last quarter. Finally, Capital Growth Management LP acquired a new position in Martin Marietta Materials during the first quarter worth about $53,436,000. Institutional investors and hedge funds own 97.18% of the company’s stock.

Martin Marietta Materials Inc. (NYSE:MLM) traded up 0.99% on Friday, hitting $173.67. 398,123 shares of the company’s stock were exchanged. The company has a market cap of $11.02 billion, a PE ratio of 30.94 and a beta of 1.36. Martin Marietta Materials Inc. has a 12-month low of $108.31 and a 12-month high of $206.36. The company’s 50-day moving average price is $179.37 and its 200-day moving average price is $183.32.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by $0.12. The company earned $915.40 million during the quarter, compared to analysts’ expectations of $953.30 million. Martin Marietta Materials had a net margin of 9.96% and a return on equity of 9.36%. Martin Marietta Materials’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. Analysts forecast that Martin Marietta Materials Inc. will post $7.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 1st were issued a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.40. Martin Marietta Materials’s payout ratio is 30.05%.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Goldman Sachs Group Inc. cut shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and decreased their target price for the company from $210.00 to $202.00 in a research report on Tuesday. Jefferies Group reissued a “hold” rating on shares of Martin Marietta Materials in a research report on Monday, August 1st. DA Davidson reissued a “hold” rating and set a $210.00 target price on shares of Martin Marietta Materials in a research report on Sunday, October 9th. Finally, Bank of America Corp. reissued a “buy” rating on shares of Martin Marietta Materials in a research report on Friday, June 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Martin Marietta Materials currently has an average rating of “Hold” and a consensus price target of $203.00.

In related news, EVP Roselyn R. Bar sold 5,830 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $199.98, for a total value of $1,165,883.40. Following the completion of the transaction, the executive vice president now owns 42,588 shares in the company, valued at $8,516,748.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David G. Maffucci sold 6,779 shares of Martin Marietta Materials stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $199.90, for a total transaction of $1,355,122.10. Following the completion of the transaction, the director now owns 20,326 shares of the company’s stock, valued at approximately $4,063,167.40. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.

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