Martin Marietta Materials, Inc. $MLM Position Lessened by Cercano Management LLC

Cercano Management LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 64.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,164 shares of the construction company’s stock after selling 30,851 shares during the quarter. Cercano Management LLC’s holdings in Martin Marietta Materials were worth $10,818,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in shares of Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after acquiring an additional 49 shares during the last quarter. Empowered Funds LLC boosted its stake in Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after purchasing an additional 144 shares during the period. Sivia Capital Partners LLC grew its position in Martin Marietta Materials by 11.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after purchasing an additional 51 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Martin Marietta Materials by 10.1% in the second quarter. Chicago Partners Investment Group LLC now owns 467 shares of the construction company’s stock valued at $269,000 after purchasing an additional 43 shares during the period. Finally, Canvas Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the second quarter valued at approximately $226,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MLM shares. Wells Fargo & Company decreased their price objective on Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Citigroup boosted their price target on Martin Marietta Materials from $758.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James Financial raised their price target on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Jefferies Financial Group upped their price objective on shares of Martin Marietta Materials from $755.00 to $761.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Loop Capital cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price on the stock. in a research note on Wednesday, January 28th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $690.69.

Martin Marietta Materials Trading Down 1.8%

Shares of Martin Marietta Materials stock opened at $666.58 on Wednesday. The business has a fifty day simple moving average of $648.84 and a 200-day simple moving average of $627.72. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $710.97. The firm has a market cap of $40.20 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.54 and a beta of 1.16. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm posted $4.79 earnings per share. Martin Marietta Materials’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.