Kornitzer Capital Management Inc. KS Has $25.10 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Kornitzer Capital Management Inc. KS trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,632 shares of the construction company's stock after selling 3,217 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.08% of Martin Marietta Materials worth $25,100,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norden Group LLC acquired a new position in shares of Martin Marietta Materials in the first quarter worth about $209,000. Private Advisor Group LLC raised its stake in Martin Marietta Materials by 2.1% during the 1st quarter. Private Advisor Group LLC now owns 1,227 shares of the construction company's stock valued at $754,000 after purchasing an additional 25 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Martin Marietta Materials by 2.7% in the first quarter. Nordea Investment Management AB now owns 4,271 shares of the construction company's stock valued at $2,619,000 after purchasing an additional 113 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Martin Marietta Materials by 54.7% in the first quarter. Whittier Trust Co. now owns 232 shares of the construction company's stock worth $142,000 after buying an additional 82 shares during the period. Finally, SPC Financial Inc. purchased a new position in shares of Martin Marietta Materials during the first quarter valued at $215,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

MLM traded down $0.15 on Thursday, hitting $617.16. The company had a trading volume of 497,674 shares, compared to its average volume of 448,493. The stock has a market cap of $37.72 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 3.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The company's fifty day moving average price is $545.48 and its 200 day moving average price is $556.16. Martin Marietta Materials, Inc. has a 1-year low of $444.14 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials's quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.94 earnings per share. Equities analysts predict that Martin Marietta Materials, Inc. will post 17.95 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $0.79 dividend. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials's dividend payout ratio (DPR) is currently 9.85%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research reports. BNP Paribas upgraded Martin Marietta Materials to a "strong-buy" rating in a research report on Thursday, September 19th. Barclays boosted their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Wednesday, September 25th. Citigroup lowered their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating on the stock in a report on Monday, August 12th. Finally, Jefferies Financial Group cut their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average target price of $634.85.

Martin Marietta Materials Company Profile

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.