BNP Paribas Arbitrage SA Decreases Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

BNP Paribas Arbitrage SA reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 65.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,695 shares of the construction company’s stock after selling 24,148 shares during the period. BNP Paribas Arbitrage SA’s holdings in Martin Marietta Materials were worth $5,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MLM. Baillie Gifford & Co. boosted its position in shares of Martin Marietta Materials by 15.7% during the 4th quarter. Baillie Gifford & Co. now owns 4,342,622 shares of the construction company’s stock worth $1,913,012,000 after purchasing an additional 590,221 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $88,583,000. Findlay Park Partners LLP boosted its position in shares of Martin Marietta Materials by 66.1% during the 3rd quarter. Findlay Park Partners LLP now owns 447,719 shares of the construction company’s stock worth $152,977,000 after purchasing an additional 178,245 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Martin Marietta Materials by 24.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 602,742 shares of the construction company’s stock worth $205,942,000 after purchasing an additional 119,492 shares in the last quarter. Finally, Moore Capital Management LP boosted its position in shares of Martin Marietta Materials by 431.0% during the 3rd quarter. Moore Capital Management LP now owns 82,721 shares of the construction company’s stock worth $28,264,000 after purchasing an additional 67,144 shares in the last quarter. Institutional investors own 93.49% of the company’s stock.

Martin Marietta Materials stock opened at $332.84 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $316.73 and a 12-month high of $446.46. The stock has a market capitalization of $20.76 billion, a P/E ratio of 31.64, a P/E/G ratio of 1.31 and a beta of 0.79. The firm’s 50-day moving average is $368.62 and its two-hundred day moving average is $393.00. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.79 and a quick ratio of 1.69.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 1st will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 0.73%. Martin Marietta Materials’s dividend payout ratio is presently 23.19%.

A number of equities research analysts recently commented on MLM shares. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday. Morgan Stanley lowered their price objective on shares of Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating on the stock in a research note on Monday, April 18th. 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. TheStreet cut shares of Martin Marietta Materials from a “b” rating to a “c+” rating in a research note on Tuesday. Finally, Zacks Investment Research raised 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $439.00.

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.

Further Reading

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

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