Martin Marietta Materials (MLM) : Gareth Morgan Investments Limited Partnership reduced its stake in Martin Marietta Materials by 36.38% during the most recent quarter end. The investment management company now holds a total of 56,317 shares of Martin Marietta Materials which is valued at $11,064,038 after selling 32,205 shares in Martin Marietta Materials , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Martin Marietta Materials makes up approximately 1.03% of Gareth Morgan Investments Limited Partnership’s portfolio.
Other Hedge Funds, Including , Lebenthal Asset Management added MLM to its portfolio by purchasing 1,200 company shares during the most recent quarter which is valued at $235,752. Martin Marietta Materials makes up approx 0.03% of Lebenthal Asset Management’s portfolio. Exane Derivatives added MLM to its portfolio by purchasing 64,941 company shares during the most recent quarter which is valued at $12,997,292. Martin Marietta Materials makes up approx 2.13% of Exane Derivatives’s portfolio.Marathon Asset Management Llp boosted its stake in MLM in the latest quarter, The investment management firm added 963 additional shares and now holds a total of 51,108 shares of Martin Marietta Materials which is valued at $10,220,067. Martin Marietta Materials makes up approx 0.21% of Marathon Asset Management Llp’s portfolio. Cutler Group Lp sold out all of its stake in MLM during the most recent quarter. The investment firm sold 3,342 shares of MLM which is valued $657,940.
Martin Marietta Materials opened for trading at $195.72 and hit $196.73 on the upside on Tuesday, eventually ending the session at $195.15, with a gain of 0.04% or 0.07 points. The heightened volatility saw the trading volume jump to 4,37,211 shares. Company has a market cap of $12,380 M.
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.