Hsbc Holdings PLC Sells 17,329 Shares of Martin Marietta Materials, Inc. $MLM

Hsbc Holdings PLC decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 14.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 104,934 shares of the construction company’s stock after selling 17,329 shares during the quarter. Hsbc Holdings PLC’s holdings in Martin Marietta Materials were worth $65,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MLM. Optima Capital LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth about $25,000. KERR FINANCIAL PLANNING Corp bought a new position in Martin Marietta Materials during the 3rd quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC bought a new position in Martin Marietta Materials during the 4th quarter valued at approximately $31,000. Union Bancaire Privee UBP SA purchased a new stake in Martin Marietta Materials in the 4th quarter worth approximately $36,000. Finally, Reflection Asset Management purchased a new stake in Martin Marietta Materials in the 4th quarter worth approximately $35,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Up 0.1%

Shares of Martin Marietta Materials stock opened at $599.97 on Monday. 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 cap of $36.03 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.55 and a beta of 1.10. The company has a 50-day moving average of $584.98 and a 200 day moving average of $616.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11.

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 the consensus estimate of $1.78 by $0.15. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. Martin Marietta Materials’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 earnings per share. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MLM shares. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a research report on Thursday, April 2nd. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Raymond James Financial reiterated an “outperform” rating on shares of Martin Marietta Materials in a report on Monday, June 29th. UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a research report on Sunday, May 10th. Finally, Oppenheimer began coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.