Nikko Asset Management Americas Lowers stake in Martin Marietta Materials (MLM)

Martin Marietta Materials (MLM) : Nikko Asset Management Americas reduced its stake in Martin Marietta Materials by 14.71% during the most recent quarter end. The investment management company now holds a total of 51,611 shares of Martin Marietta Materials which is valued at $10,237,042 after selling 8,900 shares in Martin Marietta Materials , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Martin Marietta Materials makes up approximately 0.94% of Nikko Asset Management Americas’s portfolio.

Other Hedge Funds, Including , First National Bank Of Omaha added MLM to its portfolio by purchasing 20,164 company shares during the most recent quarter which is valued at $3,999,529. Martin Marietta Materials makes up approx 0.30% of First National Bank Of Omaha’s portfolio.Capstone Asset Management Co boosted its stake in MLM in the latest quarter, The investment management firm added 608 additional shares and now holds a total of 10,270 shares of Martin Marietta Materials which is valued at $2,021,855. Martin Marietta Materials makes up approx 0.06% of Capstone Asset Management Co’s portfolio.Atria Investments reduced its stake in MLM by selling 144 shares or 11.14% in the most recent quarter. The Hedge Fund company now holds 1,149 shares of MLM which is valued at $226,204. Martin Marietta Materials makes up approx 0.02% of Atria Investments’s portfolio.British Columbia Investment Management Corp reduced its stake in MLM by selling 2,157 shares or 5.23% in the most recent quarter. The Hedge Fund company now holds 39,105 shares of MLM which is valued at $7,691,954. Martin Marietta Materials makes up approx 0.07% of British Columbia Investment Management Corp’s portfolio.

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 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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