Kornitzer Capital Management Inc. KS Has $245,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Kornitzer Capital Management Inc. KS decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,100 shares of the construction company’s stock after selling 100 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Martin Marietta Materials were worth $245,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its position in shares of Martin Marietta Materials by 2.3% in the second quarter. Great West Life Assurance Co. Can now owns 44,073 shares of the construction company’s stock worth $9,800,000 after buying an additional 972 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Martin Marietta Materials by 62.5% in the second quarter. Janney Montgomery Scott LLC now owns 9,010 shares of the construction company’s stock worth $2,006,000 after buying an additional 3,467 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in shares of Martin Marietta Materials by 22,705.9% in the second quarter. Harbour Capital Advisors LLC now owns 370,596 shares of the construction company’s stock worth $1,665,000 after buying an additional 368,971 shares in the last quarter. IBM Retirement Fund raised its stake in shares of Martin Marietta Materials by 30.6% in the second quarter. IBM Retirement Fund now owns 922 shares of the construction company’s stock worth $205,000 after buying an additional 216 shares in the last quarter. Finally, Sumitomo Life Insurance Co. acquired a new stake in shares of Martin Marietta Materials during the second quarter worth about $1,077,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) traded up 0.06% during trading on Friday, hitting $200.54. The stock had a trading volume of 862,432 shares. 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 $12.60 billion, a price-to-earnings ratio of 28.86 and a beta of 1.14. The stock’s 50-day moving average is $218.33 and its 200-day moving average is $221.66.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 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 business had revenue of $996.30 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $1.90 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.

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A number of equities research analysts have weighed in on MLM shares. BidaskClub lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Stephens lifted their price target on Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, May 4th. Finally, Stifel Nicolaus lifted their price target on Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Two 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 stock. Martin Marietta Materials has an average rating of “Hold” and a consensus target price of $229.67.

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

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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