Swedbank AB Sells 2,336 Shares of Martin Marietta Materials, Inc. $MLM

Swedbank AB lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 93.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171 shares of the construction company’s stock after selling 2,336 shares during the period. Swedbank AB’s holdings in Martin Marietta Materials were worth $101,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MLM. Schear Investment Advisers LLC lifted its stake in shares of Martin Marietta Materials by 4.1% in the first quarter. Schear Investment Advisers LLC now owns 3,278 shares of the construction company’s stock worth $1,930,000 after buying an additional 129 shares during the last quarter. PUREfi Wealth LLC acquired a new position in Martin Marietta Materials during the 1st quarter worth $219,000. Whittier Trust Co. of Nevada Inc. lifted its position in Martin Marietta Materials by 6.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,194 shares of the construction company’s stock worth $4,904,000 after acquiring an additional 509 shares during the last quarter. Whittier Trust Co. boosted its holdings in Martin Marietta Materials by 8.4% during the first quarter. Whittier Trust Co. now owns 21,748 shares of the construction company’s stock valued at $13,016,000 after acquiring an additional 1,680 shares during the period. Finally, Ascentis Independent Advisors acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at about $69,000. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Royal Bank Of Canada dropped their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research report on Monday, May 4th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. UBS Group set a $739.00 price objective on Martin Marietta Materials in a research report on Sunday, May 10th. Finally, Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $682.41.

Martin Marietta Materials Stock Performance

MLM traded up $6.10 on Friday, hitting $578.00. 450,995 shares of the stock traded hands, compared to its average volume of 628,951. The business has a fifty day moving average price of $581.94 and a two-hundred day moving average price of $615.35. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $34.71 billion, a PE ratio of 13.78, a P/E/G ratio of 2.46 and a beta of 1.10. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.31 billion. During the same quarter last year, the company earned $1.90 EPS. The company’s quarterly revenue was up 17.2% on a year-over-year basis. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.38 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were paid a dividend of $0.83 per share. The ex-dividend date was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 7.91%.

Martin Marietta Materials 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.