Chevy Chase Trust Holdings LLC Lowers Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Chevy Chase Trust Holdings LLC cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,318 shares of the construction company's stock after selling 694 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Martin Marietta Materials worth $17,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in shares of Martin Marietta Materials during the 3rd quarter worth $209,000. Swedbank AB raised its holdings in shares of Martin Marietta Materials by 326.4% during the 3rd quarter. Swedbank AB now owns 3,492 shares of the construction company's stock worth $1,880,000 after buying an additional 2,673 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Martin Marietta Materials by 6.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 810 shares of the construction company's stock worth $436,000 after buying an additional 49 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Martin Marietta Materials by 24.1% during the 3rd quarter. Global Retirement Partners LLC now owns 844 shares of the construction company's stock worth $454,000 after buying an additional 164 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of Martin Marietta Materials by 3.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,817 shares of the construction company's stock worth $1,516,000 after buying an additional 83 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MLM. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. StockNews.com lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, February 8th. Stephens reduced their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Citigroup reduced their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Loop Capital reduced their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $639.43.

Martin Marietta Materials Stock Down 2.3 %

MLM traded down $12.34 during trading on Wednesday, hitting $521.65. 403,938 shares of the company's stock were exchanged, compared to its average volume of 433,895. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The business's 50 day moving average is $533.74 and its two-hundred day moving average is $548.21. Martin Marietta Materials, Inc. has a fifty-two week low of $482.72 and a fifty-two week high of $633.23. The stock has a market cap of $31.88 billion, a P/E ratio of 16.14, a PEG ratio of 4.61 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 19.61 earnings per share for the current fiscal year.

Martin Marietta Materials 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.