Pillar Pacific Capital Management LLC Increases Holdings in Martin Marietta Materials, Inc. (MLM)

Pillar Pacific Capital Management LLC raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,180 shares of the construction company’s stock after buying an additional 701 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Martin Marietta Materials were worth $3,955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. ARP Americas LLC raised its stake in Martin Marietta Materials by 21.0% during the third quarter. ARP Americas LLC now owns 1,452 shares of the construction company’s stock valued at $299,000 after buying an additional 252 shares in the last quarter. Heritage Investors Management Corp raised its stake in Martin Marietta Materials by 6.6% during the third quarter. Heritage Investors Management Corp now owns 85,183 shares of the construction company’s stock valued at $17,567,000 after buying an additional 5,253 shares in the last quarter. Victory Capital Management Inc. raised its stake in Martin Marietta Materials by 10.9% during the third quarter. Victory Capital Management Inc. now owns 20,135 shares of the construction company’s stock valued at $4,153,000 after buying an additional 1,982 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Martin Marietta Materials during the third quarter valued at approximately $1,784,000. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in Martin Marietta Materials by 32.0% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 47,733 shares of the construction company’s stock valued at $9,843,000 after buying an additional 11,579 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.13). The firm had revenue of $996.30 million for the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 EPS.

In other news, Director John J. Koraleski acquired 500 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $198.37 per share, with a total value of $99,185.00. Following the completion of the acquisition, the director now owns 1,439 shares in the company, valued at approximately $285,454.43. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 8.45% of the company’s stock.

Several equities analysts have recently commented on the company. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $228.00 target price on shares of Martin Marietta Materials in a report on Friday, October 27th. BidaskClub lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $240.00 target price on shares of Martin Marietta Materials in a report on Wednesday, October 11th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $245.33.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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