ABN Amro Investment Solutions Has $4.08 Million Stake in Martin Marietta Materials, Inc. $MLM

ABN Amro Investment Solutions decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 54.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,934 shares of the construction company’s stock after selling 8,455 shares during the quarter. ABN Amro Investment Solutions’ holdings in Martin Marietta Materials were worth $4,082,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Martin Marietta Materials by 51.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after buying an additional 836,120 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Martin Marietta Materials by 31.9% in the second 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 last quarter. Geode Capital Management LLC lifted its position in shares of Martin Marietta Materials by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock worth $963,406,000 after buying an additional 10,743 shares during the last quarter. Morgan Stanley boosted its stake in shares of Martin Marietta Materials by 5.3% during the 4th quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock worth $851,188,000 after acquiring an additional 68,382 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Martin Marietta Materials by 9.3% during the 4th quarter. Invesco Ltd. now owns 769,904 shares of the construction company’s stock worth $479,389,000 after acquiring an additional 65,623 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MLM shares. Truist Financial raised their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Royal Bank Of Canada dropped 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. B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective for the company in a research note on Thursday, April 2nd. Finally, Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $681.53.

Martin Marietta Materials Trading Down 0.7%

Shares of MLM opened at $546.91 on Friday. 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 stock has a 50 day simple moving average of $575.94 and a 200-day simple moving average of $610.54. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The stock has a market cap of $32.84 billion, a PE ratio of 13.03, a PEG ratio of 2.33 and a beta of 1.10.

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, beating 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 analysts’ expectations of $1.31 billion. During the same period last year, the business earned $1.90 earnings per share. The business’s revenue was up 17.2% on a year-over-year basis. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) 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.