King Luther Capital Management Corp Has $339.59 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• King Luther Capital Management Corp reduced its stake in Martin Marietta Materials by 1.0%, holding approximately 710,253 shares valued at $339.6 million as of its latest SEC filing.
• Several hedge funds increased their investments in Martin Marietta, with GAMMA Investing boosting its holdings by over 58,570%, indicating strong interest in the company among institutional investors.
• Martin Marietta Materials' latest earnings report showed an EPS of $5.43, slightly missing estimates, while revenue increased by 2.7% year-over-year, totaling $1.81 billion for the quarter.

King Luther Capital Management Corp decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 1.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 710,253 shares of the construction company's stock after selling 7,096 shares during the period. Martin Marietta Materials comprises about 1.6% of King Luther Capital Management Corp's investment portfolio, making the stock its 13th biggest holding. King Luther Capital Management Corp owned 1.18% of Martin Marietta Materials worth $339,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. Wellington Management Group LLP lifted its position in Martin Marietta Materials by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock worth $231,000 after buying an additional 23 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Martin Marietta Materials by 4.0% during the 4th quarter. Bank of Nova Scotia now owns 8,162 shares of the construction company's stock valued at $4,216,000 after purchasing an additional 312 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Martin Marietta Materials by 6.6% during the 4th quarter. Advisory Services Network LLC now owns 1,496 shares of the construction company's stock valued at $773,000 after purchasing an additional 92 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Martin Marietta Materials by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 26,957 shares of the construction company's stock valued at $13,923,000 after purchasing an additional 170 shares in the last quarter. Finally, Heritage Trust Co acquired a new position in Martin Marietta Materials in the 4th quarter valued at $239,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MLM. Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. DA Davidson lifted their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research report on Monday. Bank of America lifted their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Stephens reissued an "overweight" rating and set a $700.00 price target on shares of Martin Marietta Materials in a report on Monday, August 4th. Finally, Raymond James Financial lifted their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $622.63.

Martin Marietta Materials Trading Down 1.6%

NYSE MLM traded down $10.07 during trading on Thursday, reaching $610.01. 221,477 shares of the stock traded hands, compared to its average volume of 482,867. The firm has a market cap of $36.79 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 5.62 and a beta of 0.89. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average price is $565.40 and its 200 day moving average price is $529.88.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.01). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $4.76 EPS. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Insider Buying and Selling

In other news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. The trade was a 6.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.