Stoneridge Investment Partners LLC Buys Shares of 7,631 Martin Marietta Materials, Inc. (MLM)

Stoneridge Investment Partners LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,631 shares of the construction company’s stock, valued at approximately $1,388,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MLM. Morgan Stanley raised its position in shares of Martin Marietta Materials by 27.9% in the 2nd quarter. Morgan Stanley now owns 3,492,115 shares of the construction company’s stock worth $779,894,000 after buying an additional 760,872 shares during the period. Standard Life Aberdeen plc raised its position in shares of Martin Marietta Materials by 226.2% in the 2nd quarter. Standard Life Aberdeen plc now owns 739,350 shares of the construction company’s stock worth $165,130,000 after buying an additional 512,723 shares during the period. FMR LLC raised its position in shares of Martin Marietta Materials by 37.9% in the 2nd quarter. FMR LLC now owns 1,831,320 shares of the construction company’s stock worth $408,988,000 after buying an additional 503,126 shares during the period. Bank of New York Mellon Corp raised its position in shares of Martin Marietta Materials by 19.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,654 shares of the construction company’s stock worth $224,815,000 after buying an additional 161,522 shares during the period. Finally, Select Equity Group L.P. raised its position in shares of Martin Marietta Materials by 6.6% in the 2nd quarter. Select Equity Group L.P. now owns 1,937,854 shares of the construction company’s stock worth $432,781,000 after buying an additional 119,936 shares during the period.

NYSE:MLM opened at $171.28 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 2.05. Martin Marietta Materials, Inc. has a 12 month low of $150.75 and a 12 month high of $241.33. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 1.34 and a beta of 1.08.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, July 26th. The construction company reported $3.25 EPS for the quarter, beating the consensus estimate of $2.80 by $0.45. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company posted $2.27 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 8.74 EPS for the current fiscal year.

Several research analysts recently weighed in on MLM shares. Barclays set a $215.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Friday, September 28th. ValuEngine raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Bank of America lowered Martin Marietta Materials from a “buy” rating to a “neutral” rating and cut their target price for the stock from $225.00 to $179.00 in a research report on Wednesday, October 17th. Stifel Nicolaus increased their target price on Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Finally, Stephens reaffirmed a “hold” rating and issued a $233.00 target price on shares of Martin Marietta Materials in a research report on Wednesday, August 1st. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $221.67.

In other Martin Marietta Materials news, SVP Donald A. Mccunniff sold 2,250 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total value of $459,742.50. Following the transaction, the senior vice president now directly owns 12,649 shares of the company’s stock, valued at $2,584,570.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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

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