2 hours Ago By ABMN Staff
Swedbank AB raised its stake in Martin Marietta Materials, Inc. ( NYSE:MLM – Free Report ) by 326.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.
The fund owned 3,492 shares of the construction company’s stock after acquiring an additional 2,673 shares during the quarter. Swedbank AB’s holdings in Martin Marietta Materials were worth $1,880,000 as of its most recent SEC filing. A number of other hedge funds also recently made changes to their positions in the stock.
Newbridge Financial Services Group Inc. lifted its stake in Martin Marietta Materials by 411.1% in the 2nd quarter.
Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the last quarter. Riverview Trust Co bought a new position in shares of Martin Marietta Materials in the 1st quarter valued at $26,000.
Redmont Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at $31,000. Fortitude Family Office LLC grew its position in Martin Marietta Materials by 186.4% during the 2nd quarter.
Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Martin Marietta Materials in the 1st quarter worth about $41,000. 95.
04% of the stock is currently owned by institutional investors and hedge funds. Wall Street Analyst Weigh In Several research firms have recently weighed in on MLM. Truist Financial reduced their price target on Martin Marietta Materials from $700.
00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co.
reduced their target price on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th.
StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Jefferies Financial Group reduced their price objective on shares of Martin Marietta Materials from $650.
00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Citigroup lowered their target price on Martin Marietta Materials from $658.
00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock.
According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $619.36. Martin Marietta Materials Stock Up 1.
3 % Shares of NYSE:MLM opened at $581.00 on Friday. Martin Marietta Materials, Inc.
has a 1 year low of $389.90 and a 1 year high of $626.67.
The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.
94. The business’s 50-day moving average is $533.00 and its 200-day moving average is $558.
34. The company has a market capitalization of $35.81 billion, a price-to-earnings ratio of 17.
21, a P/E/G ratio of 3.68 and a beta of 0.91.
Martin Marietta Materials ( NYSE:MLM – Get Free Report ) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.
36 by ($0.60). The business had revenue of $1.
76 billion during the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a net margin of 30.
80% and a return on equity of 13.85%. Martin Marietta Materials’s quarterly revenue was down 3.
1% compared to the same quarter last year. During the same period last year, the firm posted $5.60 earnings per share.
Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.
Martin Marietta Materials Increases Dividend The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.79 dividend.
This represents a $3.16 dividend on an annualized basis and a yield of 0.54%.
This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd.
Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.36%. About Martin Marietta Materials ( Free Report ) 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. Further Reading Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter .
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