Patriot Wealth Management Inc. purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,136 shares of the construction company’s stock, valued at approximately $6,040,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in Martin Marietta Materials by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,200 shares of the construction company’s stock worth $262,000 after buying an additional 7 shares in the last quarter. Trust Co boosted its stake in shares of Martin Marietta Materials by 0.4% in the fourth quarter. Trust Co now owns 2,549 shares of the construction company’s stock worth $565,000 after buying an additional 10 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Martin Marietta Materials by 1.6% in the first quarter. Coldstream Capital Management Inc. now owns 1,289 shares of the construction company’s stock worth $281,000 after buying an additional 20 shares during the period. 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 during the period. Finally, Mason Street Advisors LLC boosted its stake in shares of Martin Marietta Materials by 0.4% in the first quarter. Mason Street Advisors LLC now owns 8,715 shares of the construction company’s stock worth $1,902,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 98.78% of the company’s stock.

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) opened at 209.87 on Wednesday. Martin Marietta Materials, Inc. has a 52-week low of $167.06 and a 52-week high of $244.32. The firm has a market capitalization of $13.19 billion, a PE ratio of 30.20 and a beta of 1.14. The stock has a 50 day moving average price of $224.47 and a 200-day moving average price of $223.48.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Zacks’ consensus estimate of $2.38 by $0.13. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The company had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. Martin Marietta Materials’s revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.

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A number of equities analysts have commented on the company. BidaskClub lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Stephens upped their price target on Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, May 4th. Finally, Stifel Nicolaus increased their target price on Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Martin Marietta Materials currently has a consensus rating of “Hold” and an average price target of $229.67.

Martin Marietta Materials Company 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.

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

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