Hsbc Holdings PLC Has $67.58 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

Hsbc Holdings PLC trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 122,954 shares of the construction company’s stock after selling 3,796 shares during the period. Hsbc Holdings PLC’s holdings in Martin Marietta Materials were worth $67,581,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Avantax Advisory Services Inc. increased its holdings in shares of Martin Marietta Materials by 14.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,505 shares of the construction company’s stock valued at $720,000 after purchasing an additional 186 shares during the period. Cetera Investment Advisers grew its position in Martin Marietta Materials by 27.7% during the first quarter. Cetera Investment Advisers now owns 11,854 shares of the construction company’s stock valued at $5,668,000 after purchasing an additional 2,572 shares in the last quarter. LPL Financial LLC increased its stake in Martin Marietta Materials by 7.6% in the 1st quarter. LPL Financial LLC now owns 41,534 shares of the construction company’s stock valued at $19,858,000 after buying an additional 2,932 shares during the period. Mackenzie Financial Corp lifted its position in Martin Marietta Materials by 4.3% in the 1st quarter. Mackenzie Financial Corp now owns 8,504 shares of the construction company’s stock worth $4,066,000 after buying an additional 354 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in shares of Martin Marietta Materials by 2.2% during the 1st quarter. Arkadios Wealth Advisors now owns 1,753 shares of the construction company’s stock valued at $838,000 after buying an additional 37 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MLM shares. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Stephens reaffirmed an “overweight” rating and set a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. Raymond James Financial lifted their price target on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Stifel Nicolaus boosted their price target on Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $644.38.

Martin Marietta Materials Stock Up 0.1%

MLM opened at $623.24 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $37.59 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 5.57 and a beta of 1.06. The business has a 50 day moving average of $618.96 and a 200-day moving average of $592.14. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $665.18.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.50%.

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.