Vigilant Capital Management adds Martin Marietta Materials (MLM) to its portfolio

Martin Marietta Materials (MLM) : Vigilant Capital Management added new position in Martin Marietta Materials during the most recent quarter end. The investment management firm now holds 24,092 shares of Martin Marietta Materials which is valued at $4,177,071 , the company said in a statement filed on Oct 14, 2016 with the SEC.Martin Marietta Materials makes up approximately 0.75% of Vigilant Capital Management’s portfolio.

Other Hedge Funds, Including , Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in MLM in the latest quarter, The investment management firm added 173 additional shares and now holds a total of 12,078 shares of Martin Marietta Materials which is valued at $2,094,084. Martin Marietta Materials makes up approx 0.05% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Legal General Group Plc reduced its stake in MLM by selling 5,621 shares or 1.95% in the most recent quarter. The Hedge Fund company now holds 282,270 shares of MLM which is valued at $47,757,261. Martin Marietta Materials makes up approx 0.05% of Legal General Group Plc’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in MLM by selling 246 shares or 1.5% in the most recent quarter. The Hedge Fund company now holds 16,198 shares of MLM which is valued at $2,755,604. Martin Marietta Materials makes up approx 0.06% of Exxonmobil Investment Management Inc Tx’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.Bnp Paribas Arbitrage Sa reduced its stake in MLM by selling 6,249 shares or 42.66% in the most recent quarter. The Hedge Fund company now holds 8,398 shares of MLM which is valued at $1,476,032. Martin Marietta Materials makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Martin Marietta Materials opened for trading at $173 and hit $174.18 on the upside on Friday, eventually ending the session at $173.38, with a gain of 0.82% or 1.41 points. The heightened volatility saw the trading volume jump to 6,26,548 shares. Company has a market cap of $10,999 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. 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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