Berman Capital Advisors LLC grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 14.9% during the second quarter, HoldingsChannel.com reports. The firm owned 286 shares of the construction company’s stock after purchasing an additional 37 shares during the period. Berman Capital Advisors LLC’s holdings in Martin Marietta Materials were worth $100,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Reilly Financial Advisors LLC boosted its stake in shares of Martin Marietta Materials by 63.0% during the second quarter. Reilly Financial Advisors LLC now owns 75 shares of the construction company’s stock valued at $26,000 after purchasing an additional 29 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Martin Marietta Materials during the first quarter valued at about $29,000. E Fund Management Co. Ltd. acquired a new stake in shares of Martin Marietta Materials during the first quarter valued at about $37,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Martin Marietta Materials by 51.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 121 shares of the construction company’s stock valued at $41,000 after purchasing an additional 41 shares in the last quarter. Finally, Bbva USA acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $49,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on MLM. Morgan Stanley cut their price objective on Martin Marietta Materials from $408.00 to $405.00 and set an “overweight” rating on the stock in a research note on Monday, August 2nd. Jefferies Financial Group began coverage on Martin Marietta Materials in a research note on Wednesday, August 25th. They issued a “buy” rating and a $440.00 price objective on the stock. Finally, DA Davidson lifted their price objective on Martin Marietta Materials from $350.00 to $400.00 and gave the stock a “neutral” rating in a research note on Monday, August 2nd. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $342.25.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, July 29th. The construction company reported $3.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.91 by ($0.10). Martin Marietta Materials had a return on equity of 13.18% and a net margin of 15.81%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company posted $3.49 EPS. On average, analysts predict that Martin Marietta Materials, Inc. will post 12.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 1st will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Tuesday, August 31st. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.57. Martin Marietta Materials’s dividend payout ratio is 21.14%.
About Martin Marietta Materials
Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregates products only.
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