Martin Marietta Materials, Inc. $MLM Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.3% in the third quarter, Holdings Channel.com reports. The firm owned 624,949 shares of the construction company’s stock after selling 28,235 shares during the quarter. Martin Marietta Materials comprises 1.2% of King Luther Capital Management Corp’s portfolio, making the stock its 17th largest holding. King Luther Capital Management Corp’s holdings in Martin Marietta Materials were worth $299,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Martin Marietta Materials during the second quarter valued at approximately $2,706,134,000. Bank of America Corp DE lifted its position in Martin Marietta Materials by 0.9% in the 1st quarter. Bank of America Corp DE now owns 2,399,779 shares of the construction company’s stock worth $1,412,702,000 after buying an additional 21,310 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Martin Marietta Materials by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 546,170 shares of the construction company’s stock worth $321,442,000 after buying an additional 5,764 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Martin Marietta Materials by 13.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 386,046 shares of the construction company’s stock valued at $222,633,000 after buying an additional 46,228 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at $199,321,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MLM. Stephens lowered their price target on shares of Martin Marietta Materials from $680.00 to $600.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Wells Fargo & Company increased their price objective on Martin Marietta Materials from $579.00 to $589.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Raymond James Financial reiterated an “outperform” rating and set a $620.00 price objective on shares of Martin Marietta Materials in a report on Friday, November 6th. BNP Paribas Exane reduced their price objective on Martin Marietta Materials from $590.00 to $565.00 and set a “neutral” rating for the company in a research report on Wednesday, September 16th. Finally, Royal Bank Of Canada lowered their target price on Martin Marietta Materials from $530.00 to $520.00 and set a “sector perform” rating on the stock in a research note on Friday, November 6th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $635.85.

Martin Marietta Materials Stock Down 0.9%

Martin Marietta Materials stock opened at $523.55 on Thursday. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.69. Martin Marietta Materials, Inc. has a 1-year low of $464.92 and a 1-year high of $710.97. The firm’s fifty day simple moving average is $503.56 and its 200-day simple moving average is $571.62. The company has a market capitalization of $37.23 billion, a P/E ratio of 13.85, a P/E/G ratio of 2.91 and a beta of 1.02.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.99 by ($0.52). The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.24 billion. Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.85 earnings per share. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 15.36 earnings per share for the current fiscal year.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.