King Luther Capital Management Corp Lowers stake in Martin Marietta Materials (MLM)

Martin Marietta Materials (MLM) : King Luther Capital Management Corp reduced its stake in Martin Marietta Materials by 6.32% during the most recent quarter end. The investment management company now holds a total of 753,809 shares of Martin Marietta Materials which is valued at $139.3 Million after selling 50,861 shares in Martin Marietta Materials , the firm said in a disclosure report filed with the SEC on May 12, 2016.Martin Marietta Materials makes up approximately 1.38% of King Luther Capital Management Corp’s portfolio.

Other Hedge Funds, Including , Gardner Russo Gardner boosted its stake in MLM in the latest quarter, The investment management firm added 1,170 additional shares and 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 approx 3.29% of Gardner Russo Gardner’s portfolio.Trexquant Investment Lp reduced its stake in MLM by selling 29,003 shares or 92.95% in the most recent quarter. The Hedge Fund company now holds 2,200 shares of MLM which is valued at $406,450. Martin Marietta Materials makes up approx 0.05% of Trexquant Investment Lp’s portfolio. Gsa Capital Partners Llp sold out all of its stake in MLM during the most recent quarter. The investment firm sold 20,283 shares of MLM which is valued $3.7 Million.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in MLM in the latest quarter, The investment management firm added 453 additional shares and now holds a total of 4,774 shares of Martin Marietta Materials which is valued at $881,997. Martin Marietta Materials makes up approx 0.02% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.Schwab Charles Investment Management Inc boosted its stake in MLM in the latest quarter, The investment management firm added 6,067 additional shares and now holds a total of 201,874 shares of Martin Marietta Materials which is valued at $35.9 Million. Martin Marietta Materials makes up approx 0.05% of Schwab Charles Investment 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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