Hsbc Holdings PLC Acquires New Position in Martin Marietta Materials, Inc. $MLM

Hsbc Holdings PLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 118,981 shares of the construction company’s stock, valued at approximately $68,541,000. Hsbc Holdings PLC owned 0.20% of Martin Marietta Materials at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Martin Marietta Materials during the second quarter valued at approximately $2,706,134,000. Victory Capital Management Inc. grew 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 worth $1,524,853,000 after purchasing an additional 836,120 shares in the last quarter. Bank of America Corp DE grew its stake in Martin Marietta Materials by 0.9% in the first quarter. Bank of America Corp DE now owns 2,399,779 shares of the construction company’s stock worth $1,412,702,000 after purchasing an additional 21,310 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 during the period. Finally, Morgan Stanley increased its holdings in Martin Marietta Materials by 5.3% during the 4th quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock worth $851,188,000 after purchasing an additional 68,382 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Up 0.2%

Martin Marietta Materials stock opened at $532.74 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.00 billion, a P/E ratio of 13.09, a P/E/G ratio of 2.30 and a beta of 1.11. The business has a fifty day moving average of $565.99 and a two-hundred day moving average of $592.76. Martin Marietta Materials, Inc. has a twelve month low of $522.19 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business’s revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business posted $5.43 EPS. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 8.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Royal Bank Of Canada cut their price target on Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating on the stock in a research note on Monday, August 3rd. JPMorgan Chase & Co. decreased their price objective on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Citigroup lowered their price objective on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Finally, UBS Group dropped their target price on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $665.29.

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.