Pictet Asset Management Ltd. reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,441 shares of the construction company’s stock after selling 180 shares during the period. Pictet Asset Management Ltd.’s holdings in Martin Marietta Materials were worth $7,270,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MLM. First Personal Financial Services increased its position in Martin Marietta Materials by 4.5% in the first quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock valued at $112,000 after buying an additional 22 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Martin Marietta Materials during the second quarter valued at $134,000. FNY Partners Fund LP acquired a new position in Martin Marietta Materials during the first quarter valued at $174,000. IBM Retirement Fund increased its position in Martin Marietta Materials by 30.6% in the second quarter. IBM Retirement Fund now owns 922 shares of the construction company’s stock valued at $205,000 after buying an additional 216 shares in the last quarter. Finally, Tiedemann Wealth Management LLC increased its position in Martin Marietta Materials by 7.2% in the first quarter. Tiedemann Wealth Management LLC now owns 1,051 shares of the construction company’s stock valued at $229,000 after buying an additional 71 shares in the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials, Inc. (MLM) opened at 206.37 on Wednesday. The firm’s 50-day moving average is $220.27 and its 200-day moving average is $222.18. The stock has a market capitalization of $12.97 billion, a P/E ratio of 29.70 and a beta of 1.14. Martin Marietta Materials, Inc. has a 52 week low of $167.06 and a 52 week high of $244.32.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.38 by $0.13. The firm had revenue of $996.30 million during the quarter, compared to analysts’ expectations of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. Martin Marietta Materials’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $1.90 earnings per share. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.

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Several equities analysts have recently weighed in on MLM shares. Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Stephens raised their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 4th. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Finally, BidaskClub raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $229.67.

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.

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

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