Martin Marietta Materials, Inc. (MLM) Shares Sold by FTB Advisors Inc.

FTB Advisors Inc. decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 37.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,360 shares of the construction company’s stock after selling 1,385 shares during the period. FTB Advisors Inc.’s holdings in Martin Marietta Materials were worth $536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global X Management Co LLC raised its stake in Martin Marietta Materials by 4.8% during the second quarter. Global X Management Co LLC now owns 15,519 shares of the construction company’s stock worth $3,466,000 after acquiring an additional 707 shares in the last quarter. Select Equity Group L.P. raised its stake in Martin Marietta Materials by 6.6% during the second quarter. Select Equity Group L.P. now owns 1,937,854 shares of the construction company’s stock worth $432,781,000 after acquiring an additional 119,936 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Martin Marietta Materials by 14.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 6,590 shares of the construction company’s stock worth $1,473,000 after acquiring an additional 839 shares in the last quarter. Confluence Investment Management LLC raised its stake in Martin Marietta Materials by 0.7% during the third quarter. Confluence Investment Management LLC now owns 447,331 shares of the construction company’s stock worth $81,392,000 after acquiring an additional 3,238 shares in the last quarter. Finally, Reliance Trust Co. of Delaware raised its stake in Martin Marietta Materials by 19.8% during the third quarter. Reliance Trust Co. of Delaware now owns 4,258 shares of the construction company’s stock worth $775,000 after acquiring an additional 705 shares in the last quarter.

In related news, SVP Donald A. Mccunniff sold 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total value of $459,742.50. Following the sale, the senior vice president now directly owns 12,649 shares in the company, valued at $2,584,570.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

MLM has been the subject of several research analyst reports. Barclays set a $215.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a research note on Friday, September 28th. Nomura began coverage on Martin Marietta Materials in a report on Monday, October 29th. They set a “buy” rating and a $220.00 price target on the stock. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Bank of America reduced their price target on Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a report on Wednesday, July 25th. Finally, DA Davidson set a $200.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a report on Thursday, October 11th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $219.56.

NYSE:MLM opened at $184.29 on Friday. The stock has a market cap of $11.96 billion, a PE ratio of 23.31, a PEG ratio of 1.60 and a beta of 1.09. The company has a current ratio of 1.88, a quick ratio of 1.14 and a debt-to-equity ratio of 0.57. Martin Marietta Materials, Inc. has a 1-year low of $150.75 and a 1-year high of $241.33.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, November 6th. The construction company reported $2.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.21. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Martin Marietta Materials had a return on equity of 10.78% and a net margin of 17.95%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.39 earnings per share. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 8.32 earnings per share for the current year.

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About Martin Marietta Materials

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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