Swiss National Bank Grows Position in Martin Marietta Materials, Inc. $MLM

Swiss National Bank lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 177,030 shares of the construction company’s stock after purchasing an additional 11,800 shares during the period. Swiss National Bank’s holdings in Martin Marietta Materials were worth $104,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Optima Capital LLC bought a new stake in Martin Marietta Materials during the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter worth $31,000. Union Bancaire Privee UBP SA bought a new position in shares of Martin Marietta Materials in the 4th quarter worth $36,000. Reflection Asset Management bought a new stake in Martin Marietta Materials during the fourth quarter valued at about $35,000. Finally, Quarry LP bought a new stake in Martin Marietta Materials during the third quarter valued at about $38,000. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MLM shares. Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a research note on Sunday, May 10th. Truist Financial increased their target price on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Citigroup raised their target price on shares of Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $681.53.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $553.50 on Tuesday. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97. 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 firm has a market cap of $33.24 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 2.39 and a beta of 1.10. The firm’s fifty day moving average is $577.70 and its two-hundred day moving average is $612.19.

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. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.Martin Marietta Materials’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the business earned $1.90 earnings per share. Research analysts expect that Martin Marietta Materials, Inc. will post 19.43 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business 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. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was 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.