Magnetar Financial LLC Sells 1,413 Shares of Martin Marietta Materials, Inc. (MLM)

Magnetar Financial LLC lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 33.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,842 shares of the construction company’s stock after selling 1,413 shares during the quarter. Magnetar Financial LLC’s holdings in Martin Marietta Materials were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Martin Marietta Materials by 162.4% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,041 shares of the construction company’s stock worth $10,526,000 after purchasing an additional 31,590 shares during the last quarter. King Luther Capital Management Corp raised its position in Martin Marietta Materials by 3.1% in the 3rd quarter. King Luther Capital Management Corp now owns 690,695 shares of the construction company’s stock worth $142,442,000 after buying an additional 20,725 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at about $1,644,000. Envestnet Asset Management Inc. grew its stake in shares of Martin Marietta Materials by 9.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 21,552 shares of the construction company’s stock valued at $4,445,000 after purchasing an additional 1,950 shares during the period. Finally, Lodge Hill Capital LLC grew its stake in shares of Martin Marietta Materials by 8.5% during the 3rd quarter. Lodge Hill Capital LLC now owns 353,810 shares of the construction company’s stock valued at $72,966,000 after purchasing an additional 27,710 shares during the period. 97.45% of the stock is owned by institutional investors and hedge funds.

Shares of Martin Marietta Materials, Inc. (MLM) traded down $1.43 during trading hours on Wednesday, hitting $207.25. The company had a trading volume of 707,900 shares, compared to its average volume of 638,617. Martin Marietta Materials, Inc. has a 52 week low of $191.09 and a 52 week high of $244.32. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. The company has a market cap of $13,117.53, a P/E ratio of 30.42, a PEG ratio of 2.18 and a beta of 1.12.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $1.02 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $2.49 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. research analysts predict that Martin Marietta Materials, Inc. will post 6.92 EPS for the current year.

The firm also recently declared 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 payout ratio is 25.66%.

MLM has been the subject of a number of recent research reports. Jefferies Group set a $166.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a research note on Monday, August 21st. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Citigroup reiterated a “buy” rating and set a $260.00 price objective (down from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Bank of America cut their price objective 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. Finally, SunTrust Banks reiterated a “buy” rating and set a $228.00 price objective on shares of Martin Marietta Materials in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Martin Marietta Materials currently has an average rating of “Hold” and a consensus target price of $240.50.

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Martin Marietta Materials Company Profile

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.

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

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