Nykredit A S Acquires New Shares in Martin Marietta Materials, Inc. $MLM

Nykredit A S acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,384 shares of the construction company’s stock, valued at approximately $14,639,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lido Advisors LLC grew its position in shares of Martin Marietta Materials by 0.8% in the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after purchasing an additional 15 shares during the period. Harbour Investments Inc. lifted its stake in Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after buying an additional 16 shares in the last quarter. AMG National Trust Bank boosted its holdings in shares of Martin Marietta Materials by 3.6% in the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after buying an additional 17 shares during the period. Quadrant Capital Group LLC increased its position in shares of 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. Finally, AlTi Global Inc. raised its holdings in shares of Martin Marietta Materials by 1.2% during the first quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock worth $881,000 after acquiring an additional 18 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $516.12 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. The business has a 50-day moving average of $552.62 and a 200-day moving average of $585.34. The stock has a market capitalization of $31.00 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.20 and a beta of 1.10. Martin Marietta Materials, Inc. has a fifty-two week low of $502.56 and a fifty-two week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company posted $5.43 earnings per share. Martin Marietta Materials’s revenue was up 21.0% on a year-over-year basis. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be paid 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 dividend yield of 0.7%. 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 8.26%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Oppenheimer started coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating on the stock. Raymond James Financial set a $660.00 price target on Martin Marietta Materials in a research report on Friday, July 31st. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Finally, DA Davidson assumed coverage on shares of Martin Marietta Materials in a report on Monday, August 24th. They issued a “neutral” rating and a $625.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $665.88.

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.