Martin Marietta Materials, Inc. $MLM Shares Sold by Cercano Management LLC

Cercano Management LLC cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 64.3% during the third quarter, Holdings Channel reports. The firm owned 17,164 shares of the construction company’s stock after selling 30,851 shares during the quarter. Cercano Management LLC’s holdings in Martin Marietta Materials were worth $10,818,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quent Capital LLC purchased a new stake in Martin Marietta Materials during the third quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Martin Marietta Materials in the second quarter worth approximately $28,000. NewSquare Capital LLC raised its holdings in shares of Martin Marietta Materials by 62.2% during the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after acquiring an additional 23 shares during the period. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $33,000. Finally, Clearstead Trust LLC boosted its stake in Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on MLM shares. Stifel Nicolaus boosted their target price on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Wells Fargo & Company dropped their price target on Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Stephens reduced their price objective on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. UBS Group lifted their target price on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, DA Davidson set a $680.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $690.69.

Martin Marietta Materials Price Performance

MLM opened at $666.58 on Wednesday. The stock has a fifty day moving average price of $648.84 and a 200 day moving average price of $627.72. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $710.97. The stock has a market cap of $40.20 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.54 and a beta of 1.16.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the business earned $4.79 earnings per share. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.