Martin Marietta Materials, Inc. (MLM) Holdings Cut by Chevy Chase Trust Holdings Inc.

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Chevy Chase Trust Holdings Inc. reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,117 shares of the construction company’s stock after selling 2,302 shares during the quarter. Chevy Chase Trust Holdings Inc. owned 0.09% of Martin Marietta Materials worth $9,847,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MLM. Global X Management Co LLC increased its stake in shares of Martin Marietta Materials by 4.8% in the second quarter. Global X Management Co LLC now owns 15,519 shares of the construction company’s stock worth $3,466,000 after acquiring an additional 707 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Martin Marietta Materials by 14.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,590 shares of the construction company’s stock worth $1,473,000 after acquiring an additional 839 shares during the last quarter. Select Equity Group L.P. increased its stake in shares of Martin Marietta Materials by 6.6% in the second quarter. Select Equity Group L.P. now owns 1,937,854 shares of the construction company’s stock worth $432,781,000 after acquiring an additional 119,936 shares during the last quarter. State of Wisconsin Investment Board increased its stake in shares of Martin Marietta Materials by 5.2% in the second quarter. State of Wisconsin Investment Board now owns 60,806 shares of the construction company’s stock worth $13,580,000 after acquiring an additional 3,033 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Martin Marietta Materials in the second quarter worth $128,000.

MLM has been the topic of a number of research reports. Bank of America dropped their price target on shares of Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. ValuEngine downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Citigroup dropped their price target on shares of Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, July 30th. Finally, Stephens reaffirmed a “hold” rating and issued a $233.00 price target on shares of Martin Marietta Materials in a research note on Wednesday, August 1st. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $221.67.

In related news, SVP Donald A. Mccunniff sold 2,250 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total value of $459,742.50. Following the completion of the sale, the senior vice president now directly owns 12,649 shares in the company, valued at $2,584,570.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.75% of the company’s stock.

Shares of NYSE:MLM opened at $171.28 on Thursday. The firm has a market capitalization of $9.88 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. Martin Marietta Materials, Inc. has a 1 year low of $150.75 and a 1 year high of $241.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.05 and a quick ratio of 1.14.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, July 26th. The construction company reported $3.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.45. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Martin Marietta Materials had a net margin of 17.82% and a return on equity of 10.52%. Martin Marietta Materials’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.27 earnings per share. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 8.74 EPS for the current year.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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

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