Nordea Investment Management AB Acquires 302 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Nordea Investment Management AB boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,918 shares of the construction company’s stock after acquiring an additional 302 shares during the period. Nordea Investment Management AB’s holdings in Martin Marietta Materials were worth $2,564,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MLM. Newbridge Financial Services Group Inc. raised its holdings in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after acquiring an additional 37 shares during the last quarter. Asset Dedication LLC increased its holdings in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials in the third quarter worth approximately $33,000. Larson Financial Group LLC bought a new position in shares of Martin Marietta Materials in the third quarter valued at approximately $49,000. Finally, Tobam boosted its position in shares of Martin Marietta Materials by 38.8% during the third quarter. Tobam now owns 93 shares of the construction company’s stock valued at $50,000 after buying an additional 26 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MLM shares. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Jefferies Financial Group decreased their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $643.36.

Martin Marietta Materials Stock Down 1.7 %

MLM stock opened at $508.54 on Friday. The stock has a fifty day moving average of $563.58 and a 200-day moving average of $551.29. Martin Marietta Materials, Inc. has a fifty-two week low of $489.90 and a fifty-two week high of $633.23. The company has a market capitalization of $31.08 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 3.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the business earned $6.94 EPS. Martin Marietta Materials’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.62%. Martin Marietta Materials’s dividend payout ratio is 9.85%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.