Avanza Fonder AB Boosts Holdings in Martin Marietta Materials, Inc. $MLM

Avanza Fonder AB raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 20.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,929 shares of the construction company’s stock after acquiring an additional 1,198 shares during the period. Avanza Fonder AB’s holdings in Martin Marietta Materials were worth $4,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atlantic Union Bankshares Corp grew its stake in shares of Martin Marietta Materials by 321.8% during the third quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock worth $2,406,000 after acquiring an additional 2,912 shares during the last quarter. Atika Capital Management LLC increased its holdings in shares of Martin Marietta Materials by 30.4% during the second quarter. Atika Capital Management LLC now owns 72,533 shares of the construction company’s stock valued at $39,818,000 after acquiring an additional 16,900 shares in the last quarter. National Pension Service raised its position in shares of Martin Marietta Materials by 1.0% in the 3rd quarter. National Pension Service now owns 84,820 shares of the construction company’s stock valued at $53,460,000 after purchasing an additional 843 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Martin Marietta Materials by 78.5% in the 3rd quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock valued at $5,048,000 after purchasing an additional 3,522 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $1,605,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $577.03 on Wednesday. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $710.97. The company’s 50 day moving average is $643.70 and its 200 day moving average is $630.68. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The company has a market cap of $34.80 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.79 earnings per share. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.83 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.66%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MLM shares. Stephens dropped their target price on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $630.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Jefferies Financial Group reiterated a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Citigroup boosted their price objective on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Finally, Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $696.88.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.