Conning Inc. cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,410 shares of the construction company’s stock after selling 10 shares during the period. Conning Inc.’s holdings in Martin Marietta Materials were worth $314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Martin Marietta Materials by 3,137.5% in the first quarter. BlackRock Inc. now owns 3,736,667 shares of the construction company’s stock worth $815,527,000 after buying an additional 3,621,250 shares during the period. Egerton Capital UK LLP raised its position in shares of Martin Marietta Materials by 329.1% in the second quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock worth $438,007,000 after buying an additional 1,509,258 shares during the period. Iridian Asset Management LLC CT raised its position in shares of Martin Marietta Materials by 83.4% in the first quarter. Iridian Asset Management LLC CT now owns 1,060,115 shares of the construction company’s stock worth $231,370,000 after buying an additional 482,165 shares during the period. Harbour Capital Advisors LLC raised its position in shares of Martin Marietta Materials by 22,705.9% in the second quarter. Harbour Capital Advisors LLC now owns 370,596 shares of the construction company’s stock worth $1,665,000 after buying an additional 368,971 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Martin Marietta Materials by 21.8% in the first quarter. Principal Financial Group Inc. now owns 1,333,161 shares of the construction company’s stock worth $290,962,000 after buying an additional 238,711 shares during the period. Institutional investors own 98.25% of the company’s stock.

Martin Marietta Materials, Inc. (MLM) opened at 200.54 on Friday. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 28.86 and a beta of 1.14. The stock’s 50 day moving average price is $218.33 and its 200-day moving average price is $221.66. Martin Marietta Materials, Inc. has a one year low of $167.06 and a one year high of $244.32.

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 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.

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MLM has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, May 1st. BidaskClub upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Stifel Nicolaus upped their price target on Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Finally, Stephens upped their price target on Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Martin Marietta Materials presently has an average rating of “Hold” and a consensus target price of $229.67.

In other Martin Marietta Materials news, Director John J. Koraleski bought 500 shares of Martin Marietta Materials stock in a transaction dated Friday, August 18th. The stock was bought at an average cost of $198.37 per share, for a total transaction of $99,185.00. Following the purchase, the director now owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.45% of the company’s stock.

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.

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

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