ING Groep NV acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,218 shares of the construction company’s stock, valued at approximately $716,000.
Several other hedge funds have also recently bought and sold shares of MLM. BlackRock Inc. raised its stake in shares of Martin Marietta Materials by 3,137.5% in the first quarter. BlackRock Inc. now owns 3,736,667 shares of the construction company’s stock worth $815,527,000 after buying an additional 3,621,250 shares during the period. Iridian Asset Management LLC CT raised its stake in shares of Martin Marietta Materials by 83.4% in the first quarter. Iridian Asset Management LLC CT now owns 1,060,115 shares of the construction company’s stock worth $231,370,000 after buying an additional 482,165 shares during the period. Principal Financial Group Inc. raised its stake in shares of Martin Marietta Materials by 21.8% in the first quarter. Principal Financial Group Inc. now owns 1,333,161 shares of the construction company’s stock worth $290,962,000 after buying an additional 238,711 shares during the period. Janus Capital Management LLC raised its stake in shares of Martin Marietta Materials by 101.2% in the first quarter. Janus Capital Management LLC now owns 424,223 shares of the construction company’s stock worth $92,587,000 after buying an additional 213,335 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Martin Marietta Materials by 3.3% in the first quarter. Vanguard Group Inc. now owns 6,229,398 shares of the construction company’s stock worth $1,359,565,000 after buying an additional 198,069 shares during the period. Institutional investors own 96.66% of the company’s stock.
Shares of Martin Marietta Materials, Inc. (NYSE:MLM) traded down 1.593% during mid-day trading on Thursday, hitting $212.785. 441,772 shares of the company were exchanged. The stock’s 50-day moving average price is $226.03 and its 200 day moving average price is $223.69. Martin Marietta Materials, Inc. has a 12-month low of $167.06 and a 12-month high of $244.32. The stock has a market cap of $13.36 billion, a PE ratio of 32.114 and a beta of 1.14.
Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by $0.13. The firm had revenue of $996.30 million during the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.74%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 earnings per share. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.
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A number of brokerages recently issued reports on MLM. Stephens lifted their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. BidaskClub upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price 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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