Livforsakringsbolaget Skandia Omsesidigt Raises Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 247.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 368 shares of the construction company’s stock after acquiring an additional 262 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Martin Marietta Materials were worth $198,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MLM. Price T Rowe Associates Inc. MD boosted its stake in Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock worth $80,634,000 after purchasing an additional 106,002 shares during the period. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 69,701 shares during the last quarter. M&G Plc acquired a new position in Martin Marietta Materials during the first quarter worth $41,142,000. Finally, Interval Partners LP boosted its position in shares of Martin Marietta Materials by 117.4% during the first quarter. Interval Partners LP now owns 95,810 shares of the construction company’s stock worth $58,822,000 after buying an additional 51,749 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $552.93 on Tuesday. The firm has a market capitalization of $34.08 billion, a P/E ratio of 16.38, a P/E/G ratio of 3.68 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The firm’s 50 day moving average is $530.37 and its two-hundred day moving average is $558.68.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. Martin Marietta Materials’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $5.60 earnings per share. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.79 per share. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.57%. Martin Marietta Materials’s payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MLM. Stephens lowered their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Truist Financial dropped their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Loop Capital cut their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $619.36.

Martin Marietta Materials 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.