SPO Partners buys more shares of Martin Marietta Materials, stake now 12.1%

By Angela McDaniels

Tacoma, Wash., Oct. 10 - Martin Marietta Materials, Inc. investors led by SPO Partners II, LP purchased 493,000 shares of the company's stock for $75.81 to $81.80 each.

The shares were purchased on Oct. 7 and Oct. 8, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 5,016,635, or 12.1%, of the company's shares.

On Aug. 12, the investors reported the purchase of 445,000 shares on Aug. 7 for $98.39 to $103.27 each, giving them a 10.5% stake.

Martin Marietta Materials is a Raleigh, N.C.-based producer of aggregates for the construction industry.

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