Baillie Gifford & Co. Sells 207,857 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Baillie Gifford & Co. lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,911,320 shares of the construction company’s stock after selling 207,857 shares during the quarter. Martin Marietta Materials comprises about 0.8% of Baillie Gifford & Co.’s investment portfolio, making the stock its 29th biggest position. Baillie Gifford & Co.’s holdings in Martin Marietta Materials were worth $987,197,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MLM. Exchange Traded Concepts LLC bought a new position in Martin Marietta Materials in the 3rd quarter worth $209,000. Vontobel Holding Ltd. increased 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 purchasing an additional 49 shares during the period. Global Retirement Partners LLC increased 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 purchasing an additional 164 shares during the period. Bleakley Financial Group LLC increased 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 purchasing an additional 83 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Martin Marietta Materials by 0.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,602 shares of the construction company’s stock worth $3,554,000 after purchasing an additional 62 shares during the period. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research note on Wednesday, December 11th. Loop Capital lowered their target price on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Raymond James lowered their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $639.43.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $527.47 on Monday. Martin Marietta Materials, Inc. has a 12 month low of $482.72 and a 12 month high of $633.23. The company’s 50-day moving average price is $534.69 and its two-hundred day moving average price is $548.62. The firm has a market cap of $32.24 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 17.57 EPS for the current fiscal year.

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.