NEXT Financial Group Inc Grows Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

NEXT Financial Group Inc increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 107.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 760 shares of the construction company’s stock after purchasing an additional 394 shares during the quarter. NEXT Financial Group Inc’s holdings in Martin Marietta Materials were worth $175,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. IFM Investors Pty Ltd grew its holdings in Martin Marietta Materials by 1.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 4,328 shares of the construction company’s stock valued at $996,000 after buying an additional 82 shares in the last quarter. OLD National Bancorp IN boosted its holdings in shares of Martin Marietta Materials by 5.8% in the 2nd quarter. OLD National Bancorp IN now owns 33,335 shares of the construction company’s stock worth $7,671,000 after purchasing an additional 1,840 shares during the period. Lantz Financial LLC boosted its holdings in shares of Martin Marietta Materials by 1.0% in the 2nd quarter. Lantz Financial LLC now owns 6,386 shares of the construction company’s stock worth $1,448,000 after purchasing an additional 65 shares during the period. Raymond James Trust N.A. purchased a new position in shares of Martin Marietta Materials in the 2nd quarter worth approximately $240,000. Finally, Diversified Trust Co boosted its holdings in shares of Martin Marietta Materials by 3.2% in the 2nd quarter. Diversified Trust Co now owns 5,591 shares of the construction company’s stock worth $1,287,000 after purchasing an additional 173 shares during the period.

A number of equities analysts have recently commented on the company. Bank of America cut Martin Marietta Materials from a “neutral” rating to an “underperform” rating in a report on Tuesday, April 16th. Citigroup lifted their target price on Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. ValuEngine upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group lifted their target price on Martin Marietta Materials from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Longbow Research lifted their target price on Martin Marietta Materials from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $226.37.

Shares of MLM stock opened at $246.04 on Tuesday. Martin Marietta Materials, Inc. has a 52-week low of $150.75 and a 52-week high of $252.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.08. The company has a market cap of $15.36 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 2.31 and a beta of 1.13. The business’s 50 day simple moving average is $229.06.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, July 30th. The construction company reported $3.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.07). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Martin Marietta Materials had a net margin of 11.37% and a return on equity of 10.35%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $3.25 earnings per share. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 9.31 earnings per share for the current fiscal year.

In other Martin Marietta Materials news, Director Laree E. Perez sold 824 shares of Martin Marietta Materials stock in a transaction on Monday, June 10th. The stock was sold at an average price of $231.80, for a total transaction of $191,003.20. Following the completion of the sale, the director now directly owns 14,136 shares of the company’s stock, valued at approximately $3,276,724.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 2,821 shares of Martin Marietta Materials stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $246.93, for a total value of $696,589.53. Following the sale, the executive vice president now directly owns 57,149 shares of the company’s stock, valued at $14,111,802.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,869 shares of company stock valued at $3,622,433. 0.73% of the stock is currently owned by corporate insiders.

About Martin Marietta Materials

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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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