Morse Asset Management Inc bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, Holdings Channel reports. The fund bought 4,800 shares of the construction company’s stock, valued at approximately $1,068,000.

A number of other hedge funds also recently made changes to their positions in MLM. First Personal Financial Services boosted 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 worth $112,000 after buying an additional 22 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Martin Marietta Materials during the second quarter worth about $134,000. FNY Partners Fund LP acquired a new position in Martin Marietta Materials during the first quarter worth about $174,000. IBM Retirement Fund boosted 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 worth $205,000 after buying an additional 216 shares during the last quarter. Finally, Shufro Rose & Co. LLC acquired a new position in Martin Marietta Materials during the first quarter worth about $229,000. Institutional investors and hedge funds own 98.78% of the company’s stock.

Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at 209.87 on Wednesday. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 30.20 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. The company has a 50-day moving average price of $224.47 and a 200-day moving average price of $223.48.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by $0.13. The business had revenue of $996.30 million for the quarter, compared to the consensus estimate of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 earnings per share. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current year.

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A number of research firms have issued reports on MLM. Stephens increased their price target on Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, May 4th. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. BidaskClub cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Stifel Nicolaus increased their price target on Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Martin Marietta Materials currently has a consensus rating of “Hold” and a consensus target price of $229.67.

About Martin Marietta Materials

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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