Martin Marietta Materials (MLM) : Weik Investment Services Inc reduced its stake in Martin Marietta Materials by 1.56% during the most recent quarter end. The investment management company now holds a total of 11,040 shares of Martin Marietta Materials which is valued at $2,168,918 after selling 175 shares in Martin Marietta Materials , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Martin Marietta Materials makes up approximately 1.24% of Weik Investment Services Inc’s portfolio.
Other Hedge Funds, Including , Bluemountain Capital Management boosted its stake in MLM in the latest quarter, The investment management firm added 646 additional shares and now holds a total of 700 shares of Martin Marietta Materials which is valued at $137,522.Ubs Asset Management Americas Inc boosted its stake in MLM in the latest quarter, The investment management firm added 1,909 additional shares and now holds a total of 172,713 shares of Martin Marietta Materials which is valued at $34,290,439. Martin Marietta Materials makes up approx 0.04% of Ubs Asset Management Americas Inc’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in MLM in the latest quarter, The investment management firm added 9,913 additional shares and now holds a total of 94,459 shares of Martin Marietta Materials which is valued at $18,905,024. Martin Marietta Materials makes up approx 0.06% of Mizuho Trust Banking Ltd.’s portfolio.Cibc Asset Management Inc reduced its stake in MLM by selling 442 shares or 3.93% in the most recent quarter. The Hedge Fund company now holds 10,819 shares of MLM which is valued at $2,165,315. Martin Marietta Materials makes up approx 0.02% of Cibc Asset Management Inc’s portfolio.
Martin Marietta Materials opened for trading at $195.72 and hit $196.73 on the upside on Tuesday, eventually ending the session at $195.15, with a gain of 0.04% or 0.07 points. The heightened volatility saw the trading volume jump to 4,37,211 shares. Company has a market cap of $12,380 M.
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 .Alembic Global Advisors Initiated Martin Marietta Materials on Jun 9, 2016 to “Overweight”, Price Target of the shares are set at $220.
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.