Skandinaviska Enskilda Banken AB publ Has $6.06 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 12,677 shares of the construction company’s stock after selling 446 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Martin Marietta Materials were worth $6,061,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Martin Marietta Materials by 6.6% during the first quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company’s stock worth $927,775,000 after buying an additional 120,679 shares during the last quarter. Geode Capital Management LLC increased its position in Martin Marietta Materials by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company’s stock worth $758,499,000 after acquiring an additional 32,082 shares during the period. Invesco Ltd. raised its stake in Martin Marietta Materials by 5.4% during the 4th quarter. Invesco Ltd. now owns 873,629 shares of the construction company’s stock valued at $451,229,000 after purchasing an additional 44,680 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in Martin Marietta Materials by 46.6% in the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company’s stock valued at $398,324,000 after purchasing an additional 245,000 shares during the period. Finally, GAMMA Investing LLC grew its position in Martin Marietta Materials by 58,570.5% in the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company’s stock worth $333,540,000 after purchasing an additional 696,403 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.8%

Shares of Martin Marietta Materials stock opened at $586.01 on Monday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The stock has a market capitalization of $35.32 billion, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 5.35 and a beta of 0.87. The company has a 50-day simple moving average of $555.14 and a 200 day simple moving average of $524.31. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.58.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.93 earnings per share. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were given a $0.79 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.54%. Martin Marietta Materials’s payout ratio is 18.20%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MLM shares. Loop Capital dropped their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Morgan Stanley upped their price target on Martin Marietta Materials from $561.00 to $576.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Raymond James Financial reduced their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. UBS Group upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Finally, Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $603.86.

Martin Marietta Materials Company Profile

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.