Hsbc Holdings PLC Has $69.84 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Hsbc Holdings PLC boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 20.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 128,806 shares of the construction company’s stock after acquiring an additional 21,488 shares during the quarter. Hsbc Holdings PLC owned 0.21% of Martin Marietta Materials worth $69,839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MLM. Global Assets Advisory LLC acquired a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $22,265,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Martin Marietta Materials by 25.3% during 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 period. Brevan Howard Capital Management LP boosted its stake in shares of Martin Marietta Materials by 49.7% during 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 period. Vanguard Group Inc. grew its holdings in shares of Martin Marietta Materials by 1.0% during 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 acquiring an additional 69,701 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Martin Marietta Materials by 182.5% in the first quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock worth $44,901,000 after acquiring an additional 47,250 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 2.7 %

MLM stock opened at $548.56 on Friday. The stock has a market capitalization of $33.81 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The company has a 50-day moving average of $541.01 and a two-hundred day moving average of $567.60. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the business posted $5.60 EPS. The company’s revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Loop Capital lowered their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group raised their price objective on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup decreased their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Morgan Stanley increased their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $629.82.

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.