Martin Marietta Materials, Inc. $MLM Stock Holdings Decreased by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 54.4% during the second quarter, Holdings Channel reports. The fund owned 17,532 shares of the construction company’s stock after selling 20,900 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Martin Marietta Materials were worth $10,111,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MLM. Optima Capital LLC purchased a new position in Martin Marietta Materials during the 4th quarter worth approximately $25,000. CoreCap Advisors LLC raised its stake in Martin Marietta Materials by 370.0% during the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $31,000. Finally, Reflection Asset Management acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.9%

Shares of NYSE:MLM opened at $548.50 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $32.95 billion, a PE ratio of 13.48, a P/E/G ratio of 2.35 and a beta of 1.11. The firm has a fifty day moving average price of $575.90 and a 200 day moving average price of $603.58. Martin Marietta Materials, Inc. has a 1 year low of $523.48 and a 1 year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm posted $5.43 EPS. The business’s quarterly revenue was up 21.0% on a year-over-year basis. Analysts expect that Martin Marietta Materials, Inc. will post 19.25 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were given a $0.83 dividend. 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 payout ratio is currently 8.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Citigroup reduced their price objective on 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. Wolfe Research set a $648.00 target price on Martin Marietta Materials in a research note on Tuesday. Raymond James Financial set a $660.00 target price on Martin Marietta Materials in a report on Friday, July 31st. Finally, Oppenheimer initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $670.00.

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.