TD Asset Management Inc. cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 292,135 shares of the construction company’s stock after selling 3,299 shares during the period. TD Asset Management Inc. owned approximately 0.47% of Martin Marietta Materials worth $65,023,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in MLM. First Personal Financial Services boosted its stake in shares of Martin Marietta Materials by 4.5% in the first quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock worth $112,000 after buying an additional 22 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Martin Marietta Materials during the second quarter worth approximately $134,000. FNY Partners Fund LP acquired a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $174,000. IBM Retirement Fund boosted its stake in shares of Martin Marietta Materials by 30.6% in the second quarter. IBM Retirement Fund now owns 922 shares of the construction company’s stock worth $205,000 after buying an additional 216 shares during the last quarter. Finally, Tiedemann Wealth Management LLC boosted its stake in shares of Martin Marietta Materials by 7.2% in the first quarter. Tiedemann Wealth Management LLC now owns 1,051 shares of the construction company’s stock worth $229,000 after buying an additional 71 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.
Martin Marietta Materials, Inc. (MLM) traded up 0.22% on Friday, reaching $200.85. 593,703 shares of the company traded hands. The company has a 50-day moving average price of $218.93 and a 200-day moving average price of $221.90. The company has a market capitalization of $12.62 billion, a P/E ratio of 28.90 and a beta of 1.14. Martin Marietta Materials, Inc. has a 12 month low of $167.06 and a 12 month high of $244.32.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 return on equity of 10.69% and a net margin of 11.19%. Martin Marietta Materials’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Equities research analysts expect that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.
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MLM has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Stephens upped their target price on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, May 4th. Zacks Investment Research cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Finally, BidaskClub raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Martin Marietta Materials presently has an average rating of “Hold” and a consensus price target of $229.67.
In other Martin Marietta Materials news, Director John J. Koraleski purchased 500 shares of the stock in a transaction on Friday, August 18th. The shares were purchased at an average price of $198.37 per share, with a total value of $99,185.00. Following the acquisition, the director now directly owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The transaction was disclosed in a document filed with the SEC, which is available at 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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