Canada Pension Plan Investment Board trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 21.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,396 shares of the construction company’s stock after selling 31,673 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.18% of Martin Marietta Materials worth $23,798,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sun Life Financial INC boosted its stake in shares of Martin Marietta Materials by 6,442.9% during the second quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock valued at $102,000 after purchasing an additional 451 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Martin Marietta Materials by 130.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after purchasing an additional 305 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $128,000. Northwest Investment Counselors LLC acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $134,000. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $187,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at $212.57 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 2.73 and a debt-to-equity ratio of 0.38. Martin Marietta Materials, Inc. has a one year low of $188.59 and a one year high of $244.32. The company has a market capitalization of $13,314.28, a P/E ratio of 30.88, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by ($0.06). The company had revenue of $1.02 million for the quarter, compared to analysts’ expectations of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 EPS. equities research analysts expect that Martin Marietta Materials, Inc. will post 7.23 EPS for the current fiscal year.

In related news, Director John J. Koraleski bought 500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average price of $198.37 per share, with a total value of $99,185.00. Following the completion of the transaction, the director now directly owns 1,439 shares in the company, valued at $285,454.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.45% of the stock is owned by insiders.

A number of equities analysts have recently issued reports on the company. DA Davidson restated a “hold” rating and set a $225.00 price objective on shares of Martin Marietta Materials in a research report on Friday. SunTrust Banks, Inc. restated a “buy” rating and set a $228.00 price objective on shares of Martin Marietta Materials in a research report on Friday, October 27th. Bank of America Corporation lowered their price objective on Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a research report on Thursday, October 19th. Jefferies Group LLC restated a “buy” rating and set a $240.00 price objective on shares of Martin Marietta Materials in a research report on Wednesday, October 11th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $242.43.

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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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