Franklin Street Advisors Inc Nc Lowers stake in Martin Marietta Materials (MLM)

Martin Marietta Materials (MLM) : Franklin Street Advisors Inc Nc reduced its stake in Martin Marietta Materials by 1.38% during the most recent quarter end. The investment management company now holds a total of 50,485 shares of Martin Marietta Materials which is valued at $8,873,244 after selling 705 shares in Martin Marietta Materials , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Martin Marietta Materials makes up approximately 1.63% of Franklin Street Advisors Inc Nc’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in MLM by selling 6,249 shares or 42.66% in the most recent quarter. The Hedge Fund company now holds 8,398 shares of MLM which is valued at $1,476,032. Martin Marietta Materials makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio. Washington Trust Bank added MLM to its portfolio by purchasing 18 company shares during the most recent quarter which is valued at $3,164.

Martin Marietta Materials closed down -1.2 points or -0.68% at $175.7 with 7,12,744 shares getting traded on Tuesday. Post opening the session at $176.44, the shares hit an intraday low of $175.43 and an intraday high of $178.3 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Martin Marietta Materials reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $2.00. The company had revenue of $915.40 million for the quarter, compared to analysts expectations of $997.65 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.

Many Wall Street Analysts have commented on Martin Marietta Materials. Company shares were Reiterated by DA Davidson on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 210 from a previous price target of $190 .

Martin Marietta Materials Inc. is a supplier of aggregates products (crushed stone sand and gravel) and heavy building materials (cement) for the construction industry including infrastructure non-residential residential railroad ballast agricultural and chemical grade stone used in environmental applications. The Company operates through three businesses: Aggregates Business Cement Business and Magnesia Specialties Business. The Company’s Aggregates Business is engaged in mining processing and selling granite limestone sand gravel and other aggregate products. The Company’s Cement Business is engaged in producing Portland and specialty cements such as masonry and oil well cements. The Company’s Magnesia Specialties Business includes magnesia-based chemicals and dolomitic lime businesses.

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