Securian Asset Management Inc. Decreases Stake in Martin Marietta Materials, Inc. $MLM

Securian Asset Management Inc. lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 42.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,693 shares of the construction company’s stock after selling 1,236 shares during the period. Securian Asset Management Inc.’s holdings in Martin Marietta Materials were worth $1,054,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MLM. Advisor OS LLC grew its stake in shares of Martin Marietta Materials by 7.3% during the 4th quarter. Advisor OS LLC now owns 616 shares of the construction company’s stock worth $384,000 after purchasing an additional 42 shares during the period. NewEdge Wealth LLC boosted its holdings in Martin Marietta Materials by 5.2% during the fourth quarter. NewEdge Wealth LLC now owns 5,970 shares of the construction company’s stock worth $3,717,000 after buying an additional 297 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Martin Marietta Materials by 39.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 3,356 shares of the construction company’s stock worth $2,090,000 after buying an additional 949 shares during the period. Ethic Inc. increased its holdings in Martin Marietta Materials by 36.8% in the fourth quarter. Ethic Inc. now owns 10,744 shares of the construction company’s stock valued at $6,690,000 after buying an additional 2,889 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Martin Marietta Materials in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $580.83 on Wednesday. The business’s 50-day moving average price is $605.03 and its 200 day moving average price is $626.48. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a twelve month low of $532.80 and a twelve month high of $710.97. The company has a market capitalization of $34.88 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.13 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The firm’s revenue was up 17.2% on a year-over-year basis. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.27 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 2nd were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, March 2nd. Martin Marietta Materials’s payout ratio is presently 7.91%.

Analyst Ratings Changes

A number of research firms recently weighed in on MLM. Weiss Ratings cut Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. B. Riley Financial raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price on the stock in a report on Thursday, April 2nd. Jefferies Financial Group restated a “buy” rating and issued a $785.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Wells Fargo & Company boosted their price objective on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Raymond James Financial set a $690.00 price objective on shares of Martin Marietta Materials in a research note on Monday, April 27th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $689.81.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.