Handelsbanken Fonder AB Has $15.39 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Handelsbanken Fonder AB lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.6% during the 4th quarter, HoldingsChannel reports. The fund owned 29,788 shares of the construction company’s stock after purchasing an additional 2,348 shares during the period. Handelsbanken Fonder AB’s holdings in Martin Marietta Materials were worth $15,386,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC boosted its holdings in shares of Martin Marietta Materials by 11.8% during the 4th quarter. Private Advisor Group LLC now owns 1,630 shares of the construction company’s stock valued at $842,000 after acquiring an additional 172 shares in the last quarter. Summit Place Financial Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 0.4% during the 4th quarter. Summit Place Financial Advisors LLC now owns 5,862 shares of the construction company’s stock valued at $3,028,000 after acquiring an additional 23 shares in the last quarter. Buckingham Capital Management Inc. boosted its holdings in shares of Martin Marietta Materials by 11.0% during the 4th quarter. Buckingham Capital Management Inc. now owns 714 shares of the construction company’s stock valued at $369,000 after acquiring an additional 71 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $35,000. Finally, Atria Wealth Solutions Inc. boosted its holdings in shares of Martin Marietta Materials by 22.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,729 shares of the construction company’s stock valued at $1,926,000 after acquiring an additional 675 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MLM shares. Morgan Stanley cut their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Raymond James cut their target price on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Truist Financial cut their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $489.94 on Friday. Martin Marietta Materials, Inc. has a one year low of $482.72 and a one year high of $633.23. The firm has a market capitalization of $29.94 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 4.58 and a beta of 0.91. The business has a 50-day simple moving average of $531.34 and a 200 day simple moving average of $547.49. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s payout ratio is 9.77%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.