Forsta AP Fonden Sells 5,100 Shares of Martin Marietta Materials, Inc. $MLM

Forsta AP Fonden trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 29.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the construction company’s stock after selling 5,100 shares during the quarter. Forsta AP Fonden’s holdings in Martin Marietta Materials were worth $6,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MLM. CWM LLC grew its stake in shares of Martin Marietta Materials by 65.7% in the 1st quarter. CWM LLC now owns 3,152 shares of the construction company’s stock worth $1,507,000 after buying an additional 1,250 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Martin Marietta Materials by 9.1% during the first quarter. Signaturefd LLC now owns 911 shares of the construction company’s stock valued at $436,000 after acquiring an additional 76 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of Martin Marietta Materials by 25.3% in the 1st quarter. Wealthfront Advisers LLC now owns 5,398 shares of the construction company’s stock worth $2,581,000 after purchasing an additional 1,091 shares during the last quarter. Larson Financial Group LLC boosted its stake in Martin Marietta Materials by 125.0% in the 1st quarter. Larson Financial Group LLC now owns 189 shares of the construction company’s stock worth $90,000 after purchasing an additional 105 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Martin Marietta Materials by 8.1% during the 1st quarter. Victory Capital Management Inc. now owns 35,695 shares of the construction company’s stock valued at $17,067,000 after purchasing an additional 2,670 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $596.11 on Friday. The business’s 50-day simple moving average is $621.02 and its two-hundred day simple moving average is $586.71. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18. The stock has a market cap of $35.95 billion, a PE ratio of 33.06, a P/E/G ratio of 5.57 and a beta of 1.06.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 17.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MLM shares. UBS Group upped their target price on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. upped their target price on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Royal Bank Of Canada restated a “sector perform” rating and set a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Finally, Barclays increased their price target on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $644.38.

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.