Martin Marietta Materials, Inc. $MLM Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,934,783 shares of the construction company’s stock after selling 20,356 shares during the period. JPMorgan Chase & Co.’s holdings in Martin Marietta Materials were worth $1,849,736,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Martin Marietta Materials by 2.0% in the 2nd quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after purchasing an additional 56,353 shares during the last quarter. Bank of America Corp DE raised its position in shares of Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares during the period. Principal Financial Group Inc. raised its position in shares of Martin Marietta Materials by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock worth $1,389,428,000 after buying an additional 192,637 shares during the period. Geode Capital Management LLC boosted its holdings in Martin Marietta Materials by 0.3% in the second quarter. Geode Capital Management LLC now owns 1,520,932 shares of the construction company’s stock valued at $831,331,000 after acquiring an additional 4,666 shares during the last quarter. Finally, Alkeon Capital Management LLC grew its position in Martin Marietta Materials by 4.2% during the second quarter. Alkeon Capital Management LLC now owns 802,351 shares of the construction company’s stock valued at $440,459,000 after acquiring an additional 32,000 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 2.9%

MLM opened at $679.34 on Tuesday. The firm’s 50 day moving average is $647.75 and its 200-day moving average is $627.09. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $710.97. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $40.97 billion, a P/E ratio of 36.13, a P/E/G ratio of 2.54 and a beta of 1.16.

Martin Marietta Materials (NYSE:MLM) last released 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). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business posted $4.79 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on MLM. Stephens dropped their price target on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group boosted their target price on Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a report on Friday, November 7th. DA Davidson set a $680.00 target price on shares of Martin Marietta Materials in a research report on Thursday. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, B. Riley Financial initiated coverage on shares of Martin Marietta Materials in a research note on Thursday, January 15th. They set a “neutral” rating and a $700.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $689.69.

Martin Marietta Materials 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.