Handelsbanken Fonder AB Lowers Position in Martin Marietta Materials, Inc. $MLM

Handelsbanken Fonder AB trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,042 shares of the construction company’s stock after selling 2,389 shares during the period. Handelsbanken Fonder AB’s holdings in Martin Marietta Materials were worth $19,951,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Martin Marietta Materials by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after purchasing an additional 93,595 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Martin Marietta Materials by 1.1% during the third quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock valued at $1,491,136,000 after purchasing an additional 25,155 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Martin Marietta Materials by 9.6% during the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after purchasing an additional 192,637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Martin Marietta Materials by 1.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company’s stock valued at $259,344,000 after purchasing an additional 5,038 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Martin Marietta Materials by 1.2% during the third quarter. Raymond James Financial Inc. now owns 352,294 shares of the construction company’s stock valued at $222,044,000 after purchasing an additional 4,071 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of MLM opened at $541.32 on Thursday. The company has a market capitalization of $32.51 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $595.04 and a 200 day moving average of $623.93. 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 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 the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.90 earnings per share. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s payout ratio is 7.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Raymond James Financial set a $690.00 target price on shares of Martin Marietta Materials in a report on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and set a $785.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, UBS Group set a $739.00 target price on shares of Martin Marietta Materials in a report on Sunday, May 10th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $689.81.

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.