Martin Marietta Materials (MLM) : Jag Capital Management reduced its stake in Martin Marietta Materials by 3.56% during the most recent quarter end. The investment management company now holds a total of 59,879 shares of Martin Marietta Materials which is valued at $11,871,012 after selling 2,210 shares in Martin Marietta Materials , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Martin Marietta Materials makes up approximately 2.28% of Jag Capital Management’s portfolio.
Other Hedge Funds, Including , Hartford Investment Management Co reduced its stake in MLM by selling 279 shares or 1.81% in the most recent quarter. The Hedge Fund company now holds 15,156 shares of MLM which is valued at $3,004,677. Martin Marietta Materials makes up approx 0.06% of Hartford Investment Management Co’s portfolio.Douglass Winthrop Advisors reduced its stake in MLM by selling 96,510 shares or 79.9% in the most recent quarter. The Hedge Fund company now holds 24,286 shares of MLM which is valued at $4,781,185. Martin Marietta Materials makes up approx 0.35% of Douglass Winthrop Advisors’s portfolio.Creative Planning boosted its stake in MLM in the latest quarter, The investment management firm added 14 additional shares and now holds a total of 1,730 shares of Martin Marietta Materials which is valued at $340,585.
Martin Marietta Materials opened for trading at $198.14 and hit $200 on the upside on Wednesday, eventually ending the session at $198.35, with a gain of 0.06% or 0.11 points. The heightened volatility saw the trading volume jump to 3,49,755 shares. Company has a market cap of $12,601 M.
On the company’s financial health, Martin Marietta Materials reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.40. The company had revenue of $734.00 million for the quarter, compared to analysts expectations of $719.40 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.
Many Wall Street Analysts have commented on Martin Marietta Materials. Alembic Global Advisors Initiated Martin Marietta Materials on Jun 9, 2016 to “Overweight”, Price Target of the shares are set at $220.Company shares were Reiterated by Stifel on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 193 from a previous price target of $181 .
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 Companys Aggregates Business is engaged in mining processing and selling granite limestone sand gravel and other aggregate products. The Companys Cement Business is engaged in producing Portland and specialty cements such as masonry and oil well cements. The Companys Magnesia Specialties Business includes magnesia-based chemicals and dolomitic lime businesses.