MetLife Investment Advisors LLC Reduces Position in Martin Marietta Materials, Inc. (NYSE:MLM)

MetLife Investment Advisors LLC reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,747 shares of the construction company’s stock after selling 188 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $3,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Mason Street Advisors LLC raised its holdings in shares of Martin Marietta Materials by 0.7% during the 1st quarter. Mason Street Advisors LLC now owns 8,907 shares of the construction company’s stock worth $1,792,000 after buying an additional 66 shares in the last quarter. ETF Managers Group LLC increased its position in shares of Martin Marietta Materials by 10.5% in the 1st quarter. ETF Managers Group LLC now owns 692 shares of the construction company’s stock valued at $139,000 after purchasing an additional 66 shares during the last quarter. Simmons Bank grew its position in shares of Martin Marietta Materials by 1.5% in the 1st quarter. Simmons Bank now owns 4,740 shares of the construction company’s stock valued at $954,000 after buying an additional 71 shares during the last quarter. Creative Planning grew its position in shares of Martin Marietta Materials by 0.3% in the 1st quarter. Creative Planning now owns 25,093 shares of the construction company’s stock valued at $5,048,000 after buying an additional 83 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Martin Marietta Materials by 82.9% in the 1st quarter. Global Retirement Partners LLC now owns 192 shares of the construction company’s stock valued at $39,000 after buying an additional 87 shares during the last quarter.

A number of research firms recently commented on MLM. DA Davidson dropped their price objective on Cloudera to $9.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Goldman Sachs Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and increased their price target for the company from $207.00 to $232.00 in a report on Thursday, April 11th. Berenberg Bank reissued a “buy” rating and issued a GBX 3,620 ($47.30) price objective on shares of Bellway in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. downgraded shares of VESTAS WIND SYS/ADR from a “neutral” rating to an “underweight” rating in a research note on Thursday, March 21st. Finally, Bank of America downgraded shares of Propetro from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $221.87.

NYSE MLM traded up $1.50 during trading hours on Friday, hitting $226.50. 386,487 shares of the company’s stock traded hands, compared to its average volume of 417,770. Martin Marietta Materials, Inc. has a 52-week low of $150.75 and a 52-week high of $232.81. The company has a market cap of $14.18 billion, a P/E ratio of 28.00, a PEG ratio of 2.21 and a beta of 1.14. The company has a quick ratio of 0.96, a current ratio of 1.81 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average is $223.00.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.39. Martin Marietta Materials had a return on equity of 10.82% and a net margin of 11.48%. The business had revenue of $938.96 million during the quarter, compared to the consensus estimate of $881.82 million. During the same period in the previous year, the company posted $0.16 EPS. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 9.27 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, May 31st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 23.73%.

In other Martin Marietta Materials news, Chairman C Howard Nye sold 14,668 shares of Martin Marietta Materials stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $220.48, for a total transaction of $3,234,000.64. Following the completion of the sale, the chairman now owns 167,019 shares of the company’s stock, valued at $36,824,349.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Donald A. Mccunniff sold 3,183 shares of Martin Marietta Materials stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $220.19, for a total value of $700,864.77. Following the sale, the senior vice president now directly owns 16,724 shares of the company’s stock, valued at approximately $3,682,457.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,675 shares of company stock valued at $4,125,869. Corporate insiders own 0.73% 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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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