SEB Asset Management AB Buys New Shares in Martin Marietta Materials, Inc. $MLM

SEB Asset Management AB bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, HoldingsChannel.com reports. The fund bought 12,216 shares of the construction company’s stock, valued at approximately $7,191,000.

A number of other large investors have also bought and sold shares of MLM. Victory Capital Management Inc. increased its stake in Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after purchasing an additional 836,120 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Martin Marietta Materials by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock worth $963,406,000 after purchasing an additional 10,743 shares in the last quarter. Morgan Stanley grew its stake in shares of Martin Marietta Materials by 5.3% in the 4th quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock valued at $851,188,000 after buying an additional 68,382 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Martin Marietta Materials by 9.3% in the 4th quarter. Invesco Ltd. now owns 769,904 shares of the construction company’s stock valued at $479,389,000 after buying an additional 65,623 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on MLM. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wells Fargo & Company increased their price target on Martin Marietta Materials from $614.00 to $616.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Barclays reduced their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Royal Bank Of Canada lowered their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $681.53.

Martin Marietta Materials Trading Down 1.1%

NYSE:MLM opened at $547.33 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The firm has a 50-day moving average of $577.03 and a 200-day moving average of $611.66. The company has a market cap of $32.87 billion, a PE ratio of 13.04, a PEG ratio of 2.35 and a beta of 1.10. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $1.90 EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were paid a $0.83 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is 7.91%.

Martin Marietta Materials Profile

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.