Hsbc Holdings PLC Sells 17,329 Shares of Martin Marietta Materials, Inc. $MLM

Hsbc Holdings PLC cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,934 shares of the construction company’s stock after selling 17,329 shares during the period. Hsbc Holdings PLC owned approximately 0.17% of Martin Marietta Materials worth $65,470,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Douglass Winthrop Advisors LLC raised its stake in Martin Marietta Materials by 0.8% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 232,234 shares of the construction company’s stock valued at $146,372,000 after buying an additional 1,939 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Martin Marietta Materials by 5.4% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,297 shares of the construction company’s stock worth $76,451,000 after buying an additional 6,209 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Martin Marietta Materials by 33.6% in the third quarter. Citigroup Inc. now owns 125,119 shares of the construction company’s stock worth $78,860,000 after acquiring an additional 31,463 shares during the period. Camrose Capital Investment Partners LLP grew its holdings in shares of Martin Marietta Materials by 11.0% in the third quarter. Camrose Capital Investment Partners LLP now owns 95,619 shares of the construction company’s stock worth $60,267,000 after acquiring an additional 9,514 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Martin Marietta Materials by 14,332.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock valued at $48,438,000 after acquiring an additional 77,253 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MLM has been the subject of several research reports. UBS Group set a $739.00 price target on shares of Martin Marietta Materials in a research report on Sunday, May 10th. Weiss Ratings lowered shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 8th. Citigroup reduced their target price on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a report on Monday, May 4th. B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target on the stock in a research report on Thursday, April 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $785.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $681.94.

Martin Marietta Materials Stock Up 0.3%

MLM stock opened at $610.87 on Tuesday. The business’s 50-day moving average price is $588.96 and its 200-day moving average price is $618.27. The stock has a market cap of $36.68 billion, a P/E ratio of 14.56, a PEG ratio of 2.58 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a twelve month low of $525.38 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $1.90 EPS. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.41 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 7.91%.

Martin Marietta Materials Company 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.