Gardner Russo Gardner buys $388.6 Million stake in Martin Marietta Materials (MLM)

Martin Marietta Materials (MLM) : Gardner Russo Gardner scooped up 1,170 additional shares in Martin Marietta Materials during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 2,103,643 shares of Martin Marietta Materials which is valued at $388.6 Million.Martin Marietta Materials makes up approximately 3.29% of Gardner Russo Gardner’s portfolio.

Other Hedge Funds, Including , King Luther Capital Management Corp reduced its stake in MLM by selling 50,861 shares or 6.32% in the most recent quarter. The Hedge Fund company now holds 753,809 shares of MLM which is valued at $139.3 Million. Martin Marietta Materials makes up approx 1.38% of King Luther Capital Management Corp’s portfolio.Sunbelt Securities reduced its stake in MLM by selling 17 shares or 2.46% in the most recent quarter. The Hedge Fund company now holds 675 shares of MLM which is valued at $124,706. Martin Marietta Materials makes up approx 0.15% of Sunbelt Securities’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in MLM by selling 9,163 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 1,755,100 shares of MLM which is valued at $324.3 Million. Martin Marietta Materials makes up approx 0.05% of Blackrock Institutional Trust Company N.a.’s portfolio.Chase Investment Counsel Corp reduced its stake in MLM by selling 2,554 shares or 9.14% in the most recent quarter. The Hedge Fund company now holds 25,403 shares of MLM which is valued at $4.5 Million. Martin Marietta Materials makes up approx 1.99% of Chase Investment Counsel Corp’s portfolio.Princeton Capital Management Inc reduced its stake in MLM by selling 581 shares or 1.97% in the most recent quarter. The Hedge Fund company now holds 28,881 shares of MLM which is valued at $4.9 Million. Martin Marietta Materials makes up approx 3.44% of Princeton Capital Management Inc’s portfolio.

Martin Marietta Materials opened for trading at $186.33 and hit $188.15 on the upside on Friday, eventually ending the session at $187.18, with a gain of 1.21% or 2.24 points. The heightened volatility saw the trading volume jump to 5,55,159 shares. Company has a market cap of $11,891 M.

On the company’s financial health, Martin Marietta Materials reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.40. The company had revenue of $734.00 million for the quarter, compared to analysts expectations of $719.40 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.

Many Wall Street Analysts have commented on Martin Marietta Materials. Company shares were Reiterated by Stifel on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 193 from a previous price target of $181 .

Martin Marietta Materials Inc. is a supplier of aggregates products (crushed stone sand and gravel) and heavy building materials (cement) for the construction industry including infrastructure non-residential residential railroad ballast agricultural and chemical grade stone used in environmental applications. The Company operates through three businesses: Aggregates Business Cement Business and Magnesia Specialties Business. The Company’s Aggregates Business is engaged in mining processing and selling granite limestone sand gravel and other aggregate products. The Company’s Cement Business is engaged in producing Portland and specialty cements such as masonry and oil well cements. The Company’s Magnesia Specialties Business includes magnesia-based chemicals and dolomitic lime businesses.

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