Korea Investment CORP boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 19.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 39,443 shares of the construction company’s stock after buying an additional 6,358 shares during the period. Korea Investment CORP’s holdings in Martin Marietta Materials were worth $8,779,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MLM. Hermes Investment Management Ltd. boosted its position in Martin Marietta Materials by 2.7% in the first quarter. Hermes Investment Management Ltd. now owns 110,335 shares of the construction company’s stock valued at $24,081,000 after buying an additional 2,937 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Martin Marietta Materials during the first quarter valued at about $822,000. Huntington National Bank boosted its position in Martin Marietta Materials by 105.9% in the first quarter. Huntington National Bank now owns 2,491 shares of the construction company’s stock valued at $544,000 after buying an additional 1,281 shares in the last quarter. Boys Arnold & Co. Inc. boosted its position in Martin Marietta Materials by 18.5% in the first quarter. Boys Arnold & Co. Inc. now owns 3,260 shares of the construction company’s stock valued at $711,000 after buying an additional 510 shares in the last quarter. Finally, Everence Capital Management Inc. boosted its position in Martin Marietta Materials by 62.5% in the first quarter. Everence Capital Management Inc. now owns 2,886 shares of the construction company’s stock valued at $630,000 after buying an additional 1,110 shares in the last quarter. 98.78% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials, Inc. (MLM) opened at 210.95 on Thursday. The firm’s 50-day moving average is $222.86 and its 200 day moving average is $223.19. The stock has a market capitalization of $13.26 billion, a PE ratio of 30.36 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 for the quarter, missing analysts’ consensus estimates of $2.38 by $0.13. The business had revenue of $996.30 million during 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 firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current year.

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Several research analysts have issued reports on MLM shares. Stifel Nicolaus upped their price target on Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Stephens lifted their price objective on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 4th. Zacks Investment Research cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Finally, BidaskClub upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target 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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