Martin Marietta Materials: Third Point Raises Stake

In an amended 13D filing on Martin Marietta Materials Inc. (MLM), Daniel Loeb's Third Point LLC disclosed a 6.6% stake (3 million shares) in the company. This is up from the 5.4% (2.45 million shares) the firm disclosed in the Original 13D filing in December.

Loeb didn't disclose an amendment to the 'Purpose of Transaction' section of the filing and didn't attach any letters to the filing. Loeb's disclosure in the original filing was pretty standard language, noting that the firm believes the shares are undervalued and said they may from time to time, among other things, hold discussions with third parties or with management.

MLM 1-yr chart