Nordea Investment Management AB Decreases Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Nordea Investment Management AB lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,812 shares of the construction company’s stock after selling 124 shares during the period. Nordea Investment Management AB’s holdings in Martin Marietta Materials were worth $1,284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Martin Marietta Materials by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,962,439 shares of the construction company’s stock valued at $2,242,532,000 after buying an additional 52,756 shares during the period. CIBC Private Wealth Group LLC raised its position in Martin Marietta Materials by 12.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,091,619 shares of the construction company’s stock worth $351,601,000 after purchasing an additional 123,508 shares during the period. Goldman Sachs Group Inc. raised its position in Martin Marietta Materials by 8.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 919,179 shares of the construction company’s stock worth $353,783,000 after purchasing an additional 70,072 shares during the period. Bank of New York Mellon Corp raised its position in Martin Marietta Materials by 42.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 743,947 shares of the construction company’s stock worth $239,618,000 after purchasing an additional 222,244 shares during the period. Finally, Findlay Park Partners LLP raised its position in Martin Marietta Materials by 33.8% in the 4th quarter. Findlay Park Partners LLP now owns 710,490 shares of the construction company’s stock worth $240,124,000 after purchasing an additional 179,379 shares during the period. Hedge funds and other institutional investors own 93.07% of the company’s stock.

Martin Marietta Materials Stock Performance

MLM stock opened at $402.57 on Friday. Martin Marietta Materials, Inc. has a one year low of $284.99 and a one year high of $404.87. The firm has a market cap of $24.95 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.12. The firm has a 50-day simple moving average of $354.32 and a two-hundred day simple moving average of $353.01.

Martin Marietta Materials (NYSE:MLM – Get Rating) last posted its earnings results on Thursday, May 4th. The construction company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $1.17. Martin Marietta Materials had a net margin of 15.39% and a return on equity of 12.31%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 15.48 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 1st will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $2.64 annualized dividend and a yield of 0.66%. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.04%.

Analysts Set New Price Targets

A number of research firms have weighed in on MLM. Seaport Res Ptn reiterated a “neutral” rating on shares of Martin Marietta Materials in a research note on Friday, February 10th. Atlantic Securities lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $375.00 to $350.00 in a research note on Tuesday, January 24th. The Goldman Sachs Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their target price for the stock from $420.00 to $428.00 in a research report on Monday, April 3rd. Raymond James raised their target price on shares of Martin Marietta Materials from $389.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Finally, Morgan Stanley reduced their target price on shares of Martin Marietta Materials from $390.00 to $386.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 20th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $412.75.

Martin Marietta Materials Profile

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.