Russell Investments Group Ltd. Raises Position in Martin Marietta Materials, Inc. (MLM)

Russell Investments Group Ltd. boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 18.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,405 shares of the construction company’s stock after purchasing an additional 13,863 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Martin Marietta Materials worth $16,142,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV lifted its stake in Martin Marietta Materials by 5.7% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 4,471 shares of the construction company’s stock valued at $999,000 after purchasing an additional 242 shares during the last quarter. Moloney Securities Asset Management LLC lifted its stake in Martin Marietta Materials by 13.2% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 2,209 shares of the construction company’s stock valued at $493,000 after purchasing an additional 258 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Martin Marietta Materials by 11.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,509 shares of the construction company’s stock valued at $560,000 after purchasing an additional 262 shares during the last quarter. Keybank National Association OH lifted its stake in Martin Marietta Materials by 4.5% in the 2nd quarter. Keybank National Association OH now owns 6,614 shares of the construction company’s stock valued at $1,477,000 after purchasing an additional 287 shares during the last quarter. Finally, Weik Capital Management lifted its stake in Martin Marietta Materials by 2.8% in the 2nd quarter. Weik Capital Management now owns 11,960 shares of the construction company’s stock valued at $2,671,000 after purchasing an additional 325 shares during the last quarter.

In other Martin Marietta Materials news, SVP Donald A. Mccunniff sold 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total value of $459,742.50. Following the completion of the transaction, the senior vice president now directly owns 12,649 shares in the company, valued at approximately $2,584,570.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Shares of NYSE MLM opened at $184.29 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.88 and a debt-to-equity ratio of 0.57. Martin Marietta Materials, Inc. has a 52-week low of $150.75 and a 52-week high of $241.33. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, November 6th. The construction company reported $2.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.21. Martin Marietta Materials had a net margin of 17.95% and a return on equity of 10.78%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company posted $2.39 EPS. The company’s revenue was up 12.1% on a year-over-year basis. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 8.32 earnings per share for the current year.

Several equities analysts recently commented on MLM shares. Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Citigroup dropped their price objective on shares of Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Bank of America decreased their price target on shares of Martin Marietta Materials to $247.00 and set a “buy” rating for the company in a research report on Wednesday, July 25th. Nomura started coverage on shares of Martin Marietta Materials in a research report on Monday, October 29th. They issued a “buy” rating and a $220.00 price target for the company. Finally, ValuEngine cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Martin Marietta Materials presently has an average rating of “Buy” and a consensus price target of $219.56.

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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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and 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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