Egerton Capital UK LLP Reduces Position in Martin Marietta Materials, Inc. (MLM)

Egerton Capital UK LLP lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 47.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 916,019 shares of the construction company’s stock after selling 834,361 shares during the quarter. Martin Marietta Materials accounts for 1.8% of Egerton Capital UK LLP’s portfolio, making the stock its 25th largest position. Egerton Capital UK LLP owned about 1.46% of Martin Marietta Materials worth $202,477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Iridian Asset Management LLC CT boosted its stake in shares of Martin Marietta Materials by 54.6% during the 3rd quarter. Iridian Asset Management LLC CT now owns 1,785,402 shares of the construction company’s stock worth $368,203,000 after acquiring an additional 630,357 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Martin Marietta Materials by 22.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,578,296 shares of the construction company’s stock worth $323,552,000 after acquiring an additional 285,376 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Martin Marietta Materials by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock worth $342,497,000 after acquiring an additional 282,189 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Martin Marietta Materials by 18,467.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 269,606 shares of the construction company’s stock worth $55,601,000 after acquiring an additional 268,154 shares during the last quarter. Finally, CI Investments Inc. purchased a new position in shares of Martin Marietta Materials during the 3rd quarter worth $54,546,000. Institutional investors own 98.23% of the company’s stock.

Martin Marietta Materials, Inc. (NYSE MLM) opened at $212.76 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.73. Martin Marietta Materials, Inc. has a one year low of $191.09 and a one year high of $244.32. The firm has a market cap of $13,475.83, a price-to-earnings ratio of 31.25, a P/E/G ratio of 2.23 and a beta of 1.10.

Several research analysts have recently weighed in on the stock. SunTrust Banks reiterated a “buy” rating and set a $245.00 price target on shares of Martin Marietta Materials in a research note on Tuesday. Barclays initiated coverage on shares of Martin Marietta Materials in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $227.00 price target on the stock. DA Davidson restated a “hold” rating and set a $225.00 target price on shares of Martin Marietta Materials in a research note on Friday, November 3rd. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Citigroup lifted their target price on shares of Martin Marietta Materials from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Martin Marietta Materials has an average rating of “Hold” and an average price target of $243.25.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/02/13/egerton-capital-uk-llp-reduces-position-in-martin-marietta-materials-inc-mlm.html.

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.

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

Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply