Danske Bank A S Acquires New Holdings in Martin Marietta Materials, Inc. $MLM

Danske Bank A S bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 27,198 shares of the construction company’s stock, valued at approximately $15,685,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after buying an additional 49 shares during the period. Empowered Funds LLC lifted its holdings in shares of Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after acquiring an additional 144 shares during the last quarter. Sivia Capital Partners LLC grew its position in Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after acquiring an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after acquiring an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC increased its stake in Martin Marietta Materials by 22.6% in the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after acquiring an additional 143 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wolfe Research set a $648.00 price target on Martin Marietta Materials in a research note on Tuesday, August 4th. Weiss Ratings lowered Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Raymond James Financial set a $660.00 price objective on Martin Marietta Materials in a report on Friday, July 31st. Citigroup dropped their target price on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Ten 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 a consensus rating of “Moderate Buy” and a consensus target price of $668.53.

Martin Marietta Materials Stock Down 1.8%

MLM opened at $526.06 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $522.19 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. The business’s 50-day moving average price is $570.47 and its 200-day moving average price is $596.46. The company has a market cap of $31.60 billion, a P/E ratio of 12.93, a P/E/G ratio of 2.31 and a beta of 1.11.

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

Martin Marietta Materials Increases Dividend

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

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.