Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.97 Million Holdings in Martin Marietta Materials, Inc. $MLM

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 277.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,750 shares of the construction company’s stock after acquiring an additional 4,960 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Martin Marietta Materials were worth $3,974,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its position in Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after acquiring an additional 836,120 shares during the last quarter. Norges Bank bought a new stake in Martin Marietta Materials in the 4th quarter valued at $354,681,000. Bank of America Corp DE boosted its holdings in shares of Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Martin Marietta Materials by 241.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 303,031 shares of the construction company’s stock valued at $188,686,000 after purchasing an additional 214,270 shares during the last quarter. Finally, Interval Partners LP bought a new position in Martin Marietta Materials during the 4th quarter worth $128,996,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 1.1%

Martin Marietta Materials stock opened at $605.75 on Tuesday. 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 1-year low of $525.38 and a 1-year high of $710.97. The firm has a market capitalization of $36.38 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 2.55 and a beta of 1.10. The firm has a 50 day simple moving average of $584.72 and a 200 day simple moving average of $616.62.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (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 for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $1.90 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were issued a $0.83 dividend. The ex-dividend date was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s payout ratio is 7.91%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MLM. Morgan Stanley cut their target price on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Royal Bank Of Canada reduced their price objective 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. Citigroup decreased their price target on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $681.94.

About Martin Marietta Materials

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.