Swiss National Bank Reduces Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Swiss National Bank trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,070 shares of the construction company’s stock after selling 8,100 shares during the period. Swiss National Bank owned approximately 0.30% of Martin Marietta Materials worth $113,622,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Global Assets Advisory LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter valued at $22,265,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Martin Marietta Materials by 25.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,562 shares of the construction company’s stock valued at $4,272,000 after buying an additional 1,728 shares during the last quarter. Brevan Howard Capital Management LP grew its position in shares of Martin Marietta Materials by 49.7% in the 4th quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock valued at $2,830,000 after buying an additional 1,882 shares during the last quarter. Simplicity Solutions LLC grew its position in shares of Martin Marietta Materials by 166.1% in the 4th quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock valued at $1,360,000 after buying an additional 1,701 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after buying an additional 69,701 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded up $1.89 during midday trading on Monday, hitting $556.41. The company had a trading volume of 37,709 shares, compared to its average volume of 427,616. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The business has a 50-day simple moving average of $563.23 and a two-hundred day simple moving average of $560.36. The firm has a market capitalization of $34.30 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 2.46 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $2.16 earnings per share. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 23.03 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.77%.

Analysts Set New Price Targets

MLM has been the topic of a number of recent analyst reports. Citigroup dropped their target price on shares of Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. The Goldman Sachs Group increased their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Loop Capital decreased their price target on shares of Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Truist Financial increased their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $613.00.

About Martin Marietta Materials

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.