Caledonia Private Investments Pty Ltd Grows Stake in Martin Marietta Materials, Inc. (MLM)

Caledonia Private Investments Pty Ltd lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 798,089 shares of the construction company’s stock after acquiring an additional 39,989 shares during the quarter. Martin Marietta Materials makes up about 4.8% of Caledonia Private Investments Pty Ltd’s investment portfolio, making the stock its 6th largest position. Caledonia Private Investments Pty Ltd owned approximately 1.27% of Martin Marietta Materials worth $164,590,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MLM. Sun Life Financial INC grew its stake in shares of Martin Marietta Materials by 6,442.9% during the second quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock worth $102,000 after purchasing an additional 451 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Martin Marietta Materials by 130.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock worth $120,000 after purchasing an additional 305 shares during the period. Dupont Capital Management Corp acquired a new stake in shares of Martin Marietta Materials during the second quarter worth $128,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Martin Marietta Materials during the third quarter worth $152,000. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of Martin Marietta Materials during the second quarter worth $187,000. Institutional investors own 97.45% of the company’s stock.

Shares of Martin Marietta Materials, Inc. (MLM) traded down $2.54 during trading on Wednesday, hitting $205.90. The stock had a trading volume of 416,900 shares, compared to its average volume of 637,579. Martin Marietta Materials, Inc. has a 12 month low of $191.09 and a 12 month high of $244.32. The company has a market capitalization of $13,102.45, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.06). Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The company had revenue of $1.02 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $2.49 EPS. The business’s revenue was down 1.5% on a year-over-year basis. analysts expect that Martin Marietta Materials, Inc. will post 6.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.44 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.76 annualized dividend and a yield of 0.85%. Martin Marietta Materials’s dividend payout ratio is 25.66%.

A number of research analysts have issued reports on the company. DA Davidson reissued a “hold” rating and issued a $225.00 target price on shares of Martin Marietta Materials in a research note on Friday, November 3rd. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Citigroup reissued a “buy” rating and issued a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Jefferies Group reissued a “buy” rating and issued a $240.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, October 11th. Finally, Bank of America decreased their target price on Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $242.43.

ILLEGAL ACTIVITY WARNING: This article was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://stocknewstimes.com/2017/12/06/caledonia-private-investments-pty-ltd-grows-stake-in-martin-marietta-materials-inc-mlm.html.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM).

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

Receive News & Ratings for Martin Marietta Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply