Sandy Spring Bank cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,115 shares of the construction company’s stock after selling 1,385 shares during the period. Sandy Spring Bank’s holdings in Martin Marietta Materials were worth $1,637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MLM. Egerton Capital UK LLP lifted its stake in Martin Marietta Materials by 40.6% during the first quarter. Egerton Capital UK LLP now owns 2,204,702 shares of the construction company’s stock worth $443,542,000 after purchasing an additional 636,338 shares during the last quarter. FMR LLC lifted its stake in Martin Marietta Materials by 15.5% during the first quarter. FMR LLC now owns 1,700,586 shares of the construction company’s stock worth $342,123,000 after purchasing an additional 228,367 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in Martin Marietta Materials during the second quarter worth $41,050,000. Strs Ohio lifted its stake in Martin Marietta Materials by 392.1% during the first quarter. Strs Ohio now owns 163,195 shares of the construction company’s stock worth $32,831,000 after purchasing an additional 130,033 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in Martin Marietta Materials by 33.7% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 457,498 shares of the construction company’s stock worth $92,039,000 after purchasing an additional 115,390 shares during the last quarter.

NYSE:MLM traded up $0.17 during trading hours on Thursday, hitting $249.01. 5,876 shares of the company were exchanged, compared to its average volume of 719,195. The company has a market cap of $15.52 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. The company has a quick ratio of 1.08, a current ratio of 1.86 and a debt-to-equity ratio of 0.62. Martin Marietta Materials, Inc. has a one year low of $150.75 and a one year high of $252.91. The business’s fifty day moving average is $233.46.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, July 30th. The construction company reported $3.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Martin Marietta Materials had a return on equity of 10.35% and a net margin of 11.37%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.25 earnings per share. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 9.31 EPS for the current year.

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 2,821 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $246.93, for a total transaction of $696,589.53. Following the completion of the sale, the executive vice president now directly owns 57,149 shares in the company, valued at approximately $14,111,802.57. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Laree E. Perez sold 824 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $231.80, for a total value of $191,003.20. Following the sale, the director now owns 14,136 shares of the company’s stock, valued at $3,276,724.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,869 shares of company stock valued at $3,622,433. 0.73% of the stock is owned by corporate insiders.

A number of brokerages have recently commented on MLM. Longbow Research increased their price target on Martin Marietta Materials from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. ValuEngine upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Citigroup increased their price target on Martin Marietta Materials from $239.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. DA Davidson upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $227.22 price target for the company in a research note on Thursday, June 6th. Finally, Jefferies Financial Group increased their price target on Martin Marietta Materials from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $226.37.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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

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