Swedbank AB Grows Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Swedbank AB increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 326.4% in the third quarter, Holdings Channel reports. The fund owned 3,492 shares of the construction company’s stock after purchasing an additional 2,673 shares during the quarter. Swedbank AB’s holdings in Martin Marietta Materials were worth $1,880,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC lifted its stake in Martin Marietta Materials by 2.8% in the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after acquiring an additional 18 shares during the period. Inspire Investing LLC lifted its stake in Martin Marietta Materials by 0.9% in the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after acquiring an additional 19 shares during the period. Mather Group LLC. lifted its stake in Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after acquiring an additional 20 shares during the period. TFG Advisers LLC lifted its stake in Martin Marietta Materials by 3.7% in the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after acquiring an additional 20 shares during the period. Finally, Meiji Yasuda Life Insurance Co lifted its stake in Martin Marietta Materials by 3.0% in the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after acquiring an additional 20 shares during the period. 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 $595.35 on Thursday. Martin Marietta Materials, Inc. has a twelve month low of $456.83 and a twelve month high of $633.23. The company’s 50 day moving average is $569.17 and its 200 day moving average is $556.36. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a market cap of $36.39 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $6.94 EPS. Martin Marietta Materials’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of recent research reports. Truist Financial reduced their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Stephens reduced their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $515.00 to $640.00 in a report on Wednesday. Finally, StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $644.46.

Martin Marietta Materials Company 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.