Public Employees Retirement Association of Colorado reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,239 shares of the construction company’s stock after selling 40 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Martin Marietta Materials were worth $2,724,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. First National Bank of Hutchinson increased its stake in shares of Martin Marietta Materials by 0.3% in the second quarter. First National Bank of Hutchinson now owns 2,214 shares of the construction company’s stock worth $505,000 after buying an additional 6 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Martin Marietta Materials by 0.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 36,154 shares of the construction company’s stock worth $8,047,000 after buying an additional 321 shares in the last quarter. ING Groep NV acquired a new stake in shares of Martin Marietta Materials during the second quarter worth $716,000. Moloney Securities Asset Management LLC increased its stake in shares of Martin Marietta Materials by 118.3% in the second quarter. Moloney Securities Asset Management LLC now owns 2,340 shares of the construction company’s stock worth $521,000 after buying an additional 1,268 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Martin Marietta Materials during the second quarter worth $556,000. Institutional investors and hedge funds own 98.25% of the company’s stock.
Martin Marietta Materials, Inc. (NYSE:MLM) traded up 0.05% during trading on Friday, hitting $200.51. 816,673 shares of the stock were exchanged. The firm has a 50-day moving average of $218.93 and a 200-day moving average of $221.90. Martin Marietta Materials, Inc. has a 52 week low of $167.06 and a 52 week high of $244.32. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 28.85 and a beta of 1.14.
Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.38 by $0.13. The business had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 EPS. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current fiscal year.
Several research analysts have commented on the stock. Stephens upped their target price on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 4th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. BidaskClub upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $229.67.
In other Martin Marietta Materials news, Director John J. Koraleski bought 500 shares of Martin Marietta Materials stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $198.37 per share, with a total value of $99,185.00. Following the completion of the transaction, the director now owns 1,439 shares in the company, valued at approximately $285,454.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.45% of the company’s stock.
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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