Andra AP fonden Buys Shares of 14,947 Martin Marietta Materials, Inc. $MLM

Andra AP fonden purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 14,947 shares of the construction company’s stock, valued at approximately $8,799,000.

A number of other hedge funds have also modified their holdings of MLM. Optima Capital LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth about $25,000. Meeder Asset Management Inc. raised its position in Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after acquiring an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Martin Marietta Materials during the fourth quarter valued at about $31,000. Reflection Asset Management bought a new stake in Martin Marietta Materials during the fourth quarter worth approximately $35,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Martin Marietta Materials during the 2nd quarter worth $37,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

NYSE MLM opened at $547.33 on Wednesday. The firm’s 50 day moving average is $577.03 and its 200-day moving average is $611.66. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The company has a market capitalization of $32.87 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted 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. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 7.91%.

Analyst Ratings Changes

A number of brokerages have recently commented on MLM. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday. B. Riley Financial raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a research note on Thursday, April 2nd. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Truist Financial lifted their target price on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada cut their price target on shares of 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. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $681.53.

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.