Advisor Partners LLC increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 19.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,467 shares of the construction company’s stock after buying an additional 242 shares during the period. Advisor Partners LLC’s holdings in Martin Marietta Materials were worth $327,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Personal Financial Services raised its position in Martin Marietta Materials by 4.5% in the first quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock valued at $112,000 after buying an additional 22 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Martin Marietta Materials during the second quarter valued at approximately $134,000. FNY Partners Fund LP bought a new position in Martin Marietta Materials during the first quarter valued at approximately $174,000. IBM Retirement Fund raised its position in Martin Marietta Materials by 30.6% in the second quarter. IBM Retirement Fund now owns 922 shares of the construction company’s stock valued at $205,000 after buying an additional 216 shares in the last quarter. Finally, Tiedemann Wealth Management LLC raised its position in Martin Marietta Materials by 7.2% in the first quarter. Tiedemann Wealth Management LLC now owns 1,051 shares of the construction company’s stock valued at $229,000 after buying an additional 71 shares in the last quarter. Institutional investors own 98.78% of the company’s stock.
Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at 206.79 on Friday. The firm has a 50-day moving average of $222.28 and a 200 day moving average of $223.07. Martin Marietta Materials, Inc. has a 52 week low of $167.06 and a 52 week high of $244.32. The company has a market cap of $12.99 billion, a P/E ratio of 29.76 and a beta of 1.14.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by $0.13. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The business had revenue of $996.30 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $1.90 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. Equities analysts expect that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.
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Several research analysts recently commented on MLM shares. Stifel Nicolaus lifted their price target on Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Stephens lifted their price target on Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 4th. Zacks Investment Research lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Finally, BidaskClub upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $229.67.
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.
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