BB&T Corp Buys 2,757 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

BB&T Corp boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 27.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,733 shares of the construction company’s stock after buying an additional 2,757 shares during the period. BB&T Corp’s holdings in Martin Marietta Materials were worth $2,834,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in MLM. BlackRock Inc. increased its stake in Martin Marietta Materials by 3,137.5% in the first quarter. BlackRock Inc. now owns 3,736,667 shares of the construction company’s stock worth $815,527,000 after buying an additional 3,621,250 shares during the period. Iridian Asset Management LLC CT increased its stake in Martin Marietta Materials by 83.4% in the first quarter. Iridian Asset Management LLC CT now owns 1,060,115 shares of the construction company’s stock worth $231,370,000 after buying an additional 482,165 shares during the period. Principal Financial Group Inc. boosted its position in Martin Marietta Materials by 21.8% in the first quarter. Principal Financial Group Inc. now owns 1,333,161 shares of the construction company’s stock valued at $290,962,000 after buying an additional 238,711 shares in the last quarter. Janus Capital Management LLC boosted its position in Martin Marietta Materials by 101.2% in the first quarter. Janus Capital Management LLC now owns 424,223 shares of the construction company’s stock valued at $92,587,000 after buying an additional 213,335 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Martin Marietta Materials by 3.3% in the first quarter. Vanguard Group Inc. now owns 6,229,398 shares of the construction company’s stock valued at $1,359,565,000 after buying an additional 198,069 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Martin Marietta Materials, Inc. (NYSE:MLM) traded up 0.06% during trading on Friday, hitting $200.54. The company’s stock had a trading volume of 862,432 shares. The firm has a market cap of $12.60 billion, a P/E ratio of 28.86 and a beta of 1.14. Martin Marietta Materials, Inc. has a 12 month low of $167.06 and a 12 month high of $244.32. The firm has a 50 day moving average of $218.33 and a 200 day moving average of $221.66.

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

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A number of research firms have commented on MLM. Stephens boosted their target price on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, May 4th. BidaskClub cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Finally, Stifel Nicolaus boosted their price target on Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a research note 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 issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $229.67.

In other Martin Marietta Materials news, Director John J. Koraleski acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of $198.37 per share, for a total transaction of $99,185.00. Following the completion of the acquisition, the director now owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.45% of the company’s stock.

About Martin Marietta Materials

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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