Lorem Ipsum Management adds Martin Marietta Materials (MLM) to its portfolio

Martin Marietta Materials (MLM) : Lorem Ipsum Management added new position in Martin Marietta Materials during the most recent quarter end. The investment management firm now holds 5,000 shares of Martin Marietta Materials which is valued at $856,250 , the company said in a statement filed on Oct 11, 2016 with the SEC.Martin Marietta Materials makes up approximately 3.38% of Lorem Ipsum Management’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in MLM in the latest quarter, The investment management firm added 3,478 additional shares and now holds a total of 13,030 shares of Martin Marietta Materials which is valued at $2,231,388. Martin Marietta Materials makes up approx 0.05% of Oregon Public Employees Retirement Fund’s portfolio.First Mercantile Trust Co reduced its stake in MLM by selling 119 shares or 8.48% in the most recent quarter. The Hedge Fund company now holds 1,284 shares of MLM which is valued at $218,434. Martin Marietta Materials makes up approx 0.03% of First Mercantile Trust Co’s portfolio.Advisory Services Network reduced its stake in MLM by selling 209 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 3,725 shares of MLM which is valued at $633,697. Martin Marietta Materials makes up approx 0.12% of Advisory Services Network’s portfolio.Franklin Street Advisors Inc Nc reduced its stake in MLM by selling 705 shares or 1.38% in the most recent quarter. The Hedge Fund company now holds 50,485 shares of MLM which is valued at $8,873,244. Martin Marietta Materials makes up approx 1.63% of Franklin Street Advisors Inc Nc’s portfolio. Washington Trust Bank added MLM to its portfolio by purchasing 18 company shares during the most recent quarter which is valued at $3,164.

Martin Marietta Materials closed down -2.06 points or -1.20% at $169.19 with 10,33,205 shares getting traded on Tuesday. Post opening the session at $168.48, the shares hit an intraday low of $168.31 and an intraday high of $170.23 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. Martin Marietta Materials was Downgraded by Goldman to ” Neutral” on Oct 11, 2016. 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 .

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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