HighTower Advisors LLC Has $37.44 Million Stock Position in Martin Marietta Materials, Inc. $MLM

HighTower Advisors LLC lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 59,391 shares of the construction company’s stock after acquiring an additional 1,108 shares during the period. HighTower Advisors LLC’s holdings in Martin Marietta Materials were worth $37,439,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pavion Blue Capital LLC bought a new position in Martin Marietta Materials in the 3rd quarter valued at $211,000. Ameritas Advisory Services LLC lifted its stake in shares of Martin Marietta Materials by 31.7% in the 3rd quarter. Ameritas Advisory Services LLC now owns 474 shares of the construction company’s stock valued at $299,000 after purchasing an additional 114 shares during the period. CENTRAL TRUST Co grew its stake in shares of Martin Marietta Materials by 33.5% during the third quarter. CENTRAL TRUST Co now owns 291 shares of the construction company’s stock worth $183,000 after purchasing an additional 73 shares during the period. Assetmark Inc. increased its stake in shares of Martin Marietta Materials by 7.5% in the 3rd quarter. Assetmark Inc. now owns 27,841 shares of the construction company’s stock valued at $17,547,000 after acquiring an additional 1,948 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Martin Marietta Materials by 14.7% during the third quarter. Public Sector Pension Investment Board now owns 5,247 shares of the construction company’s stock worth $3,307,000 after purchasing an additional 674 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

MLM has been the subject of several recent research reports. Jefferies Financial Group upped their price objective on Martin Marietta Materials from $755.00 to $761.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. B. Riley Financial began coverage on Martin Marietta Materials in a report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price objective for the company. Royal Bank Of Canada cut their price objective on shares of Martin Marietta Materials from $605.00 to $575.00 and set a “sector perform” rating for the company in a report on Friday. Raymond James Financial upped their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company lowered their price target on Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $690.69.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $666.58 on Wednesday. The company has a market capitalization of $40.20 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 2.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $710.97. The company has a 50-day simple moving average of $648.84 and a 200 day simple moving average of $627.72.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business earned $4.79 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

About Martin Marietta Materials

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.