Handelsbanken Fonder AB Purchases 5,780 Shares of Martin Marietta Materials, Inc. $MLM

Handelsbanken Fonder AB increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 18.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,395 shares of the construction company’s stock after purchasing an additional 5,780 shares during the period. Handelsbanken Fonder AB’s holdings in Martin Marietta Materials were worth $21,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MLM. Lido Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after buying an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Martin Marietta Materials by 3.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after acquiring an additional 16 shares in the last quarter. Harbour Investments Inc. lifted its position in Martin Marietta Materials by 31.4% during the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after acquiring an additional 16 shares during the period. AMG National Trust Bank lifted its position in Martin Marietta Materials by 3.6% during the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after acquiring an additional 17 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Martin Marietta Materials by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $543.06 on Thursday. The company has a market cap of $32.62 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 2.37 and a beta of 1.11. The business’s fifty day simple moving average is $574.14 and its two-hundred day simple moving average is $601.27. Martin Marietta Materials, Inc. has a 12 month low of $523.48 and a 12 month high of $710.97. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44.

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. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the company posted $5.43 earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Wolfe Research set a $648.00 price objective on Martin Marietta Materials in a research note on Tuesday, August 4th. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Wells Fargo & Company cut their target price on Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Finally, Stephens reduced their price target on Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $670.00.

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.