Frontier Capital Management Co. LLC decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 405,632 shares of the construction company’s stock after selling 5,123 shares during the period. Frontier Capital Management Co. LLC’s holdings in Martin Marietta Materials were worth $73,805,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. Adams Natural Resources Fund Inc. acquired a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $1,583,000. Lathrop Investment Management Corp raised its holdings in Martin Marietta Materials by 5.0% in the 3rd quarter. Lathrop Investment Management Corp now owns 57,730 shares of the construction company’s stock valued at $10,504,000 after acquiring an additional 2,730 shares in the last quarter. Evermay Wealth Management LLC acquired a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $318,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $328,000. Finally, OLD National Bancorp IN acquired a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $3,484,000.
Several equities analysts have commented on MLM shares. Barclays set a $215.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a report on Friday, September 28th. ValuEngine raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Bank of America cut Martin Marietta Materials from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $225.00 to $179.00 in a 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 report on Friday, July 27th. Finally, Stephens reissued a “hold” rating and issued a $233.00 target price on shares of Martin Marietta Materials in a report on Wednesday, August 1st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $221.67.
Shares of MLM opened at $166.21 on Wednesday. Martin Marietta Materials, Inc. has a 1 year low of $150.75 and a 1 year high of $241.33. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $9.88 billion, a PE ratio of 19.98, a P/E/G ratio of 1.24 and a beta of 1.08.
Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, July 26th. The construction company reported $3.25 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the firm posted $2.27 EPS. Martin Marietta Materials’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 8.74 earnings per share for the current year.
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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