New Jersey Better Educational Savings Trust Lowers stake in Martin Marietta Materials (MLM)

Martin Marietta Materials (MLM) : New Jersey Better Educational Savings Trust reduced its stake in Martin Marietta Materials by 20.0% during the most recent quarter end. The investment management company now holds a total of 4,000 shares of Martin Marietta Materials which is valued at $800,560 after selling 1,000 shares in Martin Marietta Materials , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Martin Marietta Materials makes up approximately 0.51% of New Jersey Better Educational Savings Trust’s portfolio.

Other Hedge Funds, Including , Cibc Asset Management Inc reduced its stake in MLM by selling 442 shares or 3.93% in the most recent quarter. The Hedge Fund company now holds 10,819 shares of MLM which is valued at $2,165,315. Martin Marietta Materials makes up approx 0.02% of Cibc Asset Management Inc’s portfolio.Aberdeen Asset Management Plcuk reduced its stake in MLM by selling 262 shares or 2.18% in the most recent quarter. The Hedge Fund company now holds 11,756 shares of MLM which is valued at $2,352,846. Martin Marietta Materials makes up approx 0.01% of Aberdeen Asset Management Plcuk’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. Benjamin F. Edwards Company added MLM to its portfolio by purchasing 388 company shares during the most recent quarter which is valued at $76,386. Martin Marietta Materials makes up approx 0.01% of Benjamin F. Edwards Company’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in MLM in the latest quarter, The investment management firm added 4,925 additional shares and now holds a total of 14,647 shares of Martin Marietta Materials which is valued at $2,881,065. Martin Marietta Materials makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Martin Marietta Materials opened for trading at $198.5 and hit $201.33 on the upside on Monday, eventually ending the session at $200.43, with a gain of 1.07% or 2.12 points. The heightened volatility saw the trading volume jump to 4,19,161 shares. Company has a market cap of $12,715 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.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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