Swedbank AB Has $101,000 Stock Holdings in Martin Marietta Materials, Inc. $MLM

Swedbank AB decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 93.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171 shares of the construction company’s stock after selling 2,336 shares during the period. Swedbank AB’s holdings in Martin Marietta Materials were worth $101,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after buying an additional 836,120 shares during the period. Norges Bank acquired a new position in Martin Marietta Materials during the fourth quarter worth $354,681,000. Bank of America Corp DE raised its stake in Martin Marietta Materials by 31.9% during the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after acquiring an additional 565,856 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Martin Marietta Materials by 241.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 303,031 shares of the construction company’s stock valued at $188,686,000 after acquiring an additional 214,270 shares during the period. Finally, Interval Partners LP acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $128,996,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup upped their target price on shares of Martin Marietta Materials from $731.00 to $737.00 and gave the stock a “buy” rating in a report on Wednesday. Wall Street Zen raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Royal Bank Of Canada dropped their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a report on Monday, May 4th. Barclays reduced their target price on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Finally, Raymond James Financial restated an “outperform” rating on shares of Martin Marietta Materials in a research report on Monday, June 29th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $682.41.

Martin Marietta Materials Price Performance

MLM traded up $6.10 during midday trading on Friday, hitting $578.00. The company had a trading volume of 450,995 shares, compared to its average volume of 628,951. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The company has a market capitalization of $34.71 billion, a PE ratio of 13.78, a P/E/G ratio of 2.46 and a beta of 1.10. Martin Marietta Materials, Inc. has a twelve month low of $525.38 and a twelve month high of $710.97. The firm’s 50-day simple moving average is $581.94 and its 200-day simple moving average is $615.35.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (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 analyst estimates of $1.31 billion. During the same period in the prior year, the business earned $1.90 earnings per share. Martin Marietta Materials’s quarterly revenue was up 17.2% on a year-over-year basis. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.38 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

About Martin Marietta Materials

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.