New England Research & Management Inc. acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,200 shares of the construction company’s stock, valued at approximately $1,279,000.
Several other large investors have also added to or reduced their stakes in MLM. Huntington National Bank grew its position in Martin Marietta Materials by 14.7% during the 3rd quarter. Huntington National Bank now owns 2,840 shares of the construction company’s stock worth $586,000 after acquiring an additional 365 shares during the last quarter. Nationwide Fund Advisors grew its position in Martin Marietta Materials by 12.0% during the 3rd quarter. Nationwide Fund Advisors now owns 52,596 shares of the construction company’s stock worth $10,847,000 after acquiring an additional 5,640 shares during the last quarter. Reliance Trust Co. of Delaware grew its position in Martin Marietta Materials by 11.8% during the 3rd quarter. Reliance Trust Co. of Delaware now owns 3,810 shares of the construction company’s stock worth $786,000 after acquiring an additional 402 shares during the last quarter. BB&T Corp grew its position in Martin Marietta Materials by 9.7% during the 3rd quarter. BB&T Corp now owns 13,964 shares of the construction company’s stock worth $2,879,000 after acquiring an additional 1,231 shares during the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Martin Marietta Materials by 2.6% in the 3rd quarter. APG Asset Management N.V. now owns 87,141 shares of the construction company’s stock worth $17,971,000 after buying an additional 2,200 shares during the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on MLM shares. Zacks Investment Research lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. BidaskClub cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC set a $166.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research note on Monday, August 21st. Citigroup Inc. reiterated a “buy” rating and set a $260.00 price objective (down previously from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Finally, Bank of America Corporation lowered 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $242.43.
Martin Marietta Materials, Inc. (MLM) opened at $213.25 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $191.09 and a 52-week high of $244.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 1.50. The company has a market capitalization of $13,385.94, a PE ratio of 31.04, a PEG ratio of 2.22 and a beta of 1.14.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.06). The company had revenue of $1.02 million for the quarter, compared to analysts’ expectations of $1.07 billion. Martin Marietta Materials had a net margin of 13.93% and a return on equity of 14.22%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $2.49 earnings per share. sell-side analysts predict that Martin Marietta Materials, Inc. will post 6.92 EPS for the current fiscal year.
In other news, Director John J. Koraleski acquired 500 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average price of $198.37 per share, with a total value of $99,185.00. Following the completion of the purchase, the director now directly owns 1,439 shares in the company, valued at $285,454.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.45% of the stock is owned by corporate insiders.
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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.
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