Exxonmobil Investment Management Inc. TX Has $2.68 Million Position in Martin Marietta Materials, Inc. (MLM)

Exxonmobil Investment Management Inc. TX lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 14.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,025 shares of the construction company’s stock after selling 1,980 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Martin Marietta Materials were worth $2,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLM. Creative Planning raised its position in shares of Martin Marietta Materials by 31.7% in the second quarter. Creative Planning now owns 10,195 shares of the construction company’s stock worth $2,269,000 after buying an additional 2,451 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Martin Marietta Materials during the second quarter worth approximately $134,000. Vontobel Asset Management Inc. raised its position in shares of Martin Marietta Materials by 5.6% in the second quarter. Vontobel Asset Management Inc. now owns 453,469 shares of the construction company’s stock worth $103,350,000 after buying an additional 24,161 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of Martin Marietta Materials by 2.1% in the second quarter. Confluence Investment Management LLC now owns 350,902 shares of the construction company’s stock worth $78,104,000 after buying an additional 7,097 shares in the last quarter. Finally, Covenant Asset Management LLC raised its position in shares of Martin Marietta Materials by 4.1% in the second quarter. Covenant Asset Management LLC now owns 5,751 shares of the construction company’s stock worth $1,280,000 after buying an additional 225 shares in the last quarter. 98.78% of the stock is owned by institutional investors and hedge funds.

Shares of Martin Marietta Materials, Inc. (MLM) traded down 0.98% during mid-day trading on Friday, reaching $204.77. 523,317 shares of the company’s stock traded hands. Martin Marietta Materials, Inc. has a 12 month low of $167.06 and a 12 month high of $244.32. The stock has a market cap of $12.87 billion, a PE ratio of 29.47 and a beta of 1.14. The firm has a 50 day moving average price of $222.28 and a 200-day moving average price of $223.07.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.38 by $0.13. The company had revenue of $996.30 million for the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. Martin Marietta Materials’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. On average, analysts predict that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on MLM. BidaskClub lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Stephens increased their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 4th. Finally, Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $229.67.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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