Bleakley Financial Group LLC Lowers Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Bleakley Financial Group LLC lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,708 shares of the construction company’s stock after selling 109 shares during the quarter. Bleakley Financial Group LLC’s holdings in Martin Marietta Materials were worth $1,399,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Franklin Street Advisors Inc. NC lifted its position in Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock worth $13,037,000 after buying an additional 3,384 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 18.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock worth $4,914,000 after acquiring an additional 1,286 shares during the period. RMR Wealth Builders boosted its position in shares of Martin Marietta Materials by 431.3% in the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after acquiring an additional 1,941 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $734,000. Finally, Benjamin Edwards Inc. increased its position in Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock worth $741,000 after purchasing an additional 1,322 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MLM. Citigroup decreased their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley lowered their price target on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $648.71.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $538.38 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $490.05 and a 12-month high of $633.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The company has a market capitalization of $32.90 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 4.60 and a beta of 0.91. The firm’s fifty day moving average price is $541.73 and its 200 day moving average price is $550.46.

About Martin Marietta Materials

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.