Martin Marietta Materials, Inc. (NYSE:MLM) Holdings Lowered by Forsta AP Fonden

Forsta AP Fonden lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.2% during the third quarter, HoldingsChannel reports. The firm owned 17,800 shares of the construction company’s stock after selling 1,800 shares during the period. Forsta AP Fonden’s holdings in Martin Marietta Materials were worth $9,581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its position in shares of Martin Marietta Materials by 411.1% in the second 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 in the last quarter. Asset Dedication LLC grew its position 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. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials during the 1st quarter valued at $31,000. Fortitude Family Office LLC lifted its holdings in shares of Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter worth $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $570.21 on Monday. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The firm has a fifty day simple moving average of $536.79 and a 200-day simple moving average of $556.47. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $35.15 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 4.62 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned $5.60 earnings per share. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $0.79 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.55%. The ex-dividend date was Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is currently 9.36%.

Analyst Ratings Changes

A number of brokerages have commented on MLM. Citigroup decreased their price objective on 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. Truist Financial decreased their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Morgan Stanley upped 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. Loop Capital reduced their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $619.36.

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.