Banbury Partners Lowers stake in Martin Marietta Materials (MLM)

Martin Marietta Materials (MLM) : Banbury Partners reduced its stake in Martin Marietta Materials by 16.82% during the most recent quarter end. The investment management company now holds a total of 121,386 shares of Martin Marietta Materials which is valued at $23,847,494 after selling 24,544 shares in Martin Marietta Materials , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Martin Marietta Materials makes up approximately 8.46% of Banbury Partners’s portfolio.

Other Hedge Funds, Including , Southpoint Capital Advisors Lp sold out all of its stake in MLM during the most recent quarter. The investment firm sold 371,680 shares of MLM which is valued $73,020,253.Capital Growth Management Lp boosted its stake in MLM in the latest quarter, The investment management firm added 245,000 additional shares and now holds a total of 580,000 shares of Martin Marietta Materials which is valued at $113,946,800. Martin Marietta Materials makes up approx 4.92% of Capital Growth Management Lp’s portfolio.Freestone Capital Holdings reduced its stake in MLM by selling 257 shares or 3.42% in the most recent quarter. The Hedge Fund company now holds 7,247 shares of MLM which is valued at $1,423,746. Martin Marietta Materials makes up approx 0.13% of Freestone Capital Holdings’s portfolio.B T Capital Management Dba Alpha Capital Management reduced its stake in MLM by selling 3,478 shares or 26.95% in the most recent quarter. The Hedge Fund company now holds 9,425 shares of MLM which is valued at $1,851,636. Martin Marietta Materials makes up approx 1.28% of B T Capital Management Dba Alpha Capital Management’s portfolio.Smithfield Trust Co boosted its stake in MLM in the latest quarter, The investment management firm added 1,210 additional shares and now holds a total of 1,952 shares of Martin Marietta Materials which is valued at $395,573. Martin Marietta Materials makes up approx 0.07% of Smithfield Trust Co’s portfolio.

Martin Marietta Materials opened for trading at $182.62 and hit $184.42 on the upside on Thursday, eventually ending the session at $183.53, with a gain of 0.27% or 0.5 points. The heightened volatility saw the trading volume jump to 6,31,403 shares. Company has a market cap of $11,643 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 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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