Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Hallmark Capital Management Inc.
Hallmark Capital Management Inc. reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 57.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,433 shares of the construction company’s stock after selling 1,957 shares during the period. Hallmark Capital Management Inc.’s holdings in Martin Marietta Materials were worth $319,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. First Personal Financial Services boosted its stake in shares of Martin Marietta Materials by 4.5% in the first quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock worth $112,000 after buying an additional 22 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Martin Marietta Materials during the second quarter worth $134,000. FNY Partners Fund LP acquired a new position in Martin Marietta Materials during the first quarter worth $174,000. Shufro Rose & Co. LLC acquired a new position in Martin Marietta Materials during the first quarter worth $229,000. Finally, Tiedemann Wealth Management LLC raised its position in Martin Marietta Materials by 7.2% in the first quarter. Tiedemann Wealth Management LLC now owns 1,051 shares of the construction company’s stock worth $229,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 98.78% of the company’s stock.
Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at 214.01 on Tuesday. Martin Marietta Materials, Inc. has a 12-month low of $167.06 and a 12-month high of $244.32. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of 30.80 and a beta of 1.14. The stock’s 50 day moving average price is $226.03 and its 200 day moving average price is $223.69.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by $0.13. The company had revenue of $996.30 million during the quarter, compared to analysts’ expectations of $1.01 billion. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 EPS. Equities research analysts expect that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current year.
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MLM has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their target price on Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Zacks Investment Research lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BidaskClub raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Stephens upped their price objective on Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $229.67.
About Martin Marietta Materials
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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