M&T Bank Corp boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 27.6% in the fourth quarter, Holdings Channel reports. The fund owned 5,335 shares of the construction company’s stock after buying an additional 1,154 shares during the quarter. M&T Bank Corp’s holdings in Martin Marietta Materials were worth $1,179,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Goelzer Investment Management Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth about $211,000. TrueNorth Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth about $2,403,000. Stephens Inc. AR raised its position in Martin Marietta Materials by 9.3% during the fourth quarter. Stephens Inc. AR now owns 11,935 shares of the construction company’s stock worth $2,638,000 after acquiring an additional 1,011 shares during the last quarter. Bourgeon Capital Management LLC raised its position in Martin Marietta Materials by 70.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 4,485 shares of the construction company’s stock worth $991,000 after acquiring an additional 1,850 shares during the last quarter. Finally, Huntington National Bank raised its position in Martin Marietta Materials by 130.5% during the fourth quarter. Huntington National Bank now owns 6,546 shares of the construction company’s stock worth $1,447,000 after acquiring an additional 3,706 shares during the last quarter. Institutional investors own 96.45% of the company’s stock.
In related news, Director Laree E. Perez sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $214.00, for a total value of $642,000.00. Following the completion of the sale, the director now directly owns 16,751 shares in the company, valued at $3,584,714. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.45% of the stock is currently owned by insiders.
MLM has been the subject of a number of recent research reports. SunTrust Banks reiterated a “buy” rating and set a $228.00 price target on shares of Martin Marietta Materials in a report on Friday, October 27th. DA Davidson reiterated a “hold” rating and set a $225.00 price target on shares of Martin Marietta Materials in a report on Friday, November 3rd. Barclays initiated coverage on shares of Martin Marietta Materials in a report on Tuesday, December 12th. They set an “equal weight” rating and a $227.00 price target for the company. Stephens reiterated a “hold” rating and set a $250.00 price target on shares of Martin Marietta Materials in a report on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Martin Marietta Materials currently has a consensus rating of “Hold” and an average price target of $243.25.
Shares of Martin Marietta Materials, Inc. (NYSE:MLM) opened at $216.25 on Tuesday. The company has a market cap of $13,593.38, a PE ratio of 30.08, a PEG ratio of 3.14 and a beta of 1.10. Martin Marietta Materials, Inc. has a twelve month low of $191.09 and a twelve month high of $244.32. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, February 13th. The construction company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.46. Martin Marietta Materials had a net margin of 17.99% and a return on equity of 10.85%. The business had revenue of $911.30 million during the quarter, compared to the consensus estimate of $924.30 million. During the same period in the previous year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. research analysts predict that Martin Marietta Materials, Inc. will post 8.53 EPS for the current year.
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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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