Bourgeon Capital Management LLC boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 17.9% during the second quarter, Holdings Channel reports. The fund owned 2,635 shares of the construction company’s stock after buying an additional 400 shares during the period. Bourgeon Capital Management LLC’s holdings in Martin Marietta Materials were worth $586,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. raised its position in Martin Marietta Materials by 2.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 57,894 shares of the construction company’s stock valued at $12,635,000 after buying an additional 1,278 shares during the last quarter. Creative Planning raised its position in Martin Marietta Materials by 295.7% in the first quarter. Creative Planning now owns 7,744 shares of the construction company’s stock valued at $1,690,000 after buying an additional 5,787 shares during the last quarter. Gulf International Bank UK Ltd raised its position in Martin Marietta Materials by 5.4% in the first quarter. Gulf International Bank UK Ltd now owns 19,425 shares of the construction company’s stock valued at $4,239,000 after buying an additional 1,000 shares during the last quarter. National Pension Service raised its position in Martin Marietta Materials by 6.2% in the first quarter. National Pension Service now owns 56,081 shares of the construction company’s stock valued at $11,864,000 after buying an additional 3,271 shares during the last quarter. Finally, Atria Investments LLC raised its position in Martin Marietta Materials by 79.1% in the first quarter. Atria Investments LLC now owns 3,721 shares of the construction company’s stock valued at $812,000 after buying an additional 1,643 shares during the last quarter. 98.78% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at 204.77 on Friday. The firm has a 50-day moving average price of $221.66 and a 200-day moving average price of $222.91. 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 cap of $12.87 billion, a price-to-earnings ratio of 29.47 and a beta of 1.14.

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. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The business had revenue of $996.30 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $1.90 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. Analysts predict that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.

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Several equities analysts recently issued reports on MLM shares. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. Stifel Nicolaus increased their target price on Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Stephens increased their target price on Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 4th. Finally, BidaskClub raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Two equities research 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 has a consensus rating of “Hold” and a consensus price target 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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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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