Kingfisher Capital buys $2.6 Million stake in Martin Marietta Materials (MLM)

Martin Marietta Materials (MLM) : Kingfisher Capital scooped up 6,116 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 13, 2016. The investment management firm now holds a total of 14,133 shares of Martin Marietta Materials which is valued at $2.6 Million.Martin Marietta Materials makes up approximately 1.64% of Kingfisher Capital’s portfolio.

Other Hedge Funds, Including , Stevens Capital Management Lp reduced its stake in MLM by selling 41,843 shares or 76.37% in the most recent quarter. The Hedge Fund company now holds 12,945 shares of MLM which is valued at $2.4 Million. Martin Marietta Materials makes up approx 0.10% of Stevens Capital Management Lp’s portfolio.Daiwa Securities Group reduced its stake in MLM by selling 700 shares or 35.0% in the most recent quarter. The Hedge Fund company now holds 1,300 shares of MLM which is valued at $240,175.Comerica Bank reduced its stake in MLM by selling 58 shares or 0.28% in the most recent quarter. The Hedge Fund company now holds 20,296 shares of MLM which is valued at $3.7 Million. Martin Marietta Materials makes up approx 0.03% of Comerica Bank’s portfolio.First Eagle Investment Management boosted its stake in MLM in the latest quarter, The investment management firm added 15,234 additional shares and now holds a total of 1,763,669 shares of Martin Marietta Materials which is valued at $313.8 Million. Martin Marietta Materials makes up approx 0.78% of First Eagle Investment Management’s portfolio.Gamco Investors Et Al reduced its stake in MLM by selling 75 shares or 4.03% in the most recent quarter. The Hedge Fund company now holds 1,785 shares of MLM which is valued at $317,569.

Martin Marietta Materials opened for trading at $192.01 and hit $193.87 on the upside on Wednesday, eventually ending the session at $193.15, with a gain of 1.33% or 2.53 points. The heightened volatility saw the trading volume jump to 7,12,556 shares. Company has a market cap of $12,270 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.

Investors should note that on May 19, 2016, Martin Marietta Materials announced a cash dividend of $0.4000. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 30, 2016.

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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