Martin Marietta Materials (MLM) : Baillie Gifford Co reduced its stake in Martin Marietta Materials by 2.95% during the most recent quarter end. The investment management company now holds a total of 3,463,771 shares of Martin Marietta Materials which is valued at $687,697,094 after selling 105,312 shares in Martin Marietta Materials , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Martin Marietta Materials makes up approximately 1.14% of Baillie Gifford Co’s portfolio.
Other Hedge Funds, Including , First Eagle Investment Management reduced its stake in MLM by selling 370,160 shares or 20.99% in the most recent quarter. The Hedge Fund company now holds 1,393,509 shares of MLM which is valued at $276,667,277. Martin Marietta Materials makes up approx 0.67% of First Eagle Investment Management’s portfolio. Candriam Luxembourg S.c.a. added MLM to its portfolio by purchasing 2,386 company shares during the most recent quarter which is valued at $480,827. Martin Marietta Materials makes up approx 0.01% of Candriam Luxembourg S.c.a.’s portfolio.Carroll Financial Associates reduced its stake in MLM by selling 10 shares or 1.33% in the most recent quarter. The Hedge Fund company now holds 740 shares of MLM which is valued at $146,779. Martin Marietta Materials makes up approx 0.02% of Carroll Financial Associates’s portfolio.
Martin Marietta Materials closed down -2.94 points or -1.49% at $193.89 with 6,54,179 shares getting traded on Wednesday. Post opening the session at $196.8, the shares hit an intraday low of $190.5 and an intraday high of $196.855 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Martin Marietta Materials reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $2.00. The company had revenue of $915.40 million for the quarter, compared to analysts expectations of $997.65 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.
Many Wall Street Analysts have commented on Martin Marietta Materials. Company shares were Reiterated by DA Davidson on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 210 from a previous price target of $190 .Alembic Global Advisors Initiated Martin Marietta Materials on Jun 9, 2016 to “Overweight”, Price Target of the shares are set at $220.
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 Companys Aggregates Business is engaged in mining processing and selling granite limestone sand gravel and other aggregate products. The Companys Cement Business is engaged in producing Portland and specialty cements such as masonry and oil well cements. The Companys Magnesia Specialties Business includes magnesia-based chemicals and dolomitic lime businesses.