Goldman Sachs Group Inc. Sells 1,907 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Goldman Sachs Group Inc. lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 849,107 shares of the construction company’s stock after selling 1,907 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.36% of Martin Marietta Materials worth $374,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Prospera Financial Services Inc raised its position in shares of Martin Marietta Materials by 2.9% in the third quarter. Prospera Financial Services Inc now owns 883 shares of the construction company’s stock valued at $302,000 after purchasing an additional 25 shares during the period. CX Institutional raised its position in shares of Martin Marietta Materials by 23.0% in the third quarter. CX Institutional now owns 139 shares of the construction company’s stock valued at $47,000 after purchasing an additional 26 shares during the period. Financial Counselors Inc. raised its position in shares of Martin Marietta Materials by 2.5% in the fourth quarter. Financial Counselors Inc. now owns 1,149 shares of the construction company’s stock valued at $506,000 after purchasing an additional 28 shares during the period. First National Bank of Hutchinson raised its position in shares of Martin Marietta Materials by 3.5% in the fourth quarter. First National Bank of Hutchinson now owns 850 shares of the construction company’s stock valued at $374,000 after purchasing an additional 29 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Martin Marietta Materials by 4.7% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 666 shares of the construction company’s stock valued at $228,000 after purchasing an additional 30 shares during the period. 93.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday. DA Davidson lowered their price objective on shares of Martin Marietta Materials from $465.00 to $450.00 in a research note on Monday, February 14th. TheStreet downgraded shares of Martin Marietta Materials from a “b” rating to a “c+” rating in a research note on Tuesday. Barclays lowered their price objective on shares of Martin Marietta Materials from $485.00 to $450.00 and set an “overweight” rating on the stock in a research note on Friday, February 11th. Finally, Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating and set a $396.00 price objective on the stock in a research note on Thursday, May 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $439.00.

MLM traded up $5.27 during trading on Friday, reaching $332.84. 375,995 shares of the company’s stock were exchanged, compared to its average volume of 449,109. Martin Marietta Materials, Inc. has a fifty-two week low of $316.73 and a fifty-two week high of $446.46. The company has a quick ratio of 1.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average price of $368.62 and a 200 day moving average price of $393.00. The company has a market capitalization of $20.76 billion, a P/E ratio of 31.64, a PEG ratio of 1.29 and a beta of 0.79.

Martin Marietta Materials (NYSE:MLMGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The construction company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.44). The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.13 billion. Martin Marietta Materials had a return on equity of 11.42% and a net margin of 11.63%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 13.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 1st will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $2.44 dividend on an annualized basis and a dividend yield of 0.73%. Martin Marietta Materials’s payout ratio is presently 23.19%.

About Martin Marietta Materials (Get Rating)

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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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