Virtus Fund Advisers LLC raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 571,775 shares of the construction company’s stock after buying an additional 115,525 shares during the period. Martin Marietta Materials comprises about 1.2% of Virtus Fund Advisers LLC’s holdings, making the stock its 8th largest position. Virtus Fund Advisers LLC’s holdings in Martin Marietta Materials were worth $126,385,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of MLM. Highlander Capital Management LLC acquired a new stake in shares of Martin Marietta Materials during the third quarter worth about $124,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $155,000. First Dallas Securities Inc. acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $155,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Martin Marietta Materials during the third quarter worth about $152,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $206,000. Institutional investors own 98.23% of the company’s stock.
Martin Marietta Materials, Inc. (NYSE:MLM) opened at $216.25 on Friday. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. Martin Marietta Materials, Inc. has a twelve month low of $191.09 and a twelve month high of $244.32. The stock has a market capitalization of $13,593.48, a PE ratio of 30.08, a P/E/G ratio of 3.17 and a beta of 1.10.
In related news, Director Laree E. Perez sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $214.00, for a total transaction of $642,000.00. Following the transaction, the director now owns 16,751 shares of the company’s stock, valued at $3,584,714. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.45% of the company’s stock.
A number of research firms have recently commented on MLM. Alembic Global Advisors reiterated a “buy” rating on shares of Martin Marietta Materials in a research report on Wednesday. Zacks Investment Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Friday, January 19th. Stephens reiterated a “hold” rating and set a $250.00 target price on shares of Martin Marietta Materials in a research report on Wednesday, January 3rd. DA Davidson reiterated a “hold” rating and set a $225.00 target price on shares of Martin Marietta Materials in a research report on Friday, November 3rd. Finally, Barclays began coverage on Martin Marietta Materials in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $227.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $243.25.
TRADEMARK VIOLATION NOTICE: This news story was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.chaffeybreeze.com/2018/02/18/virtus-fund-advisers-llc-has-126-39-million-holdings-in-martin-marietta-materials-inc-mlm.html.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM).
Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.