Swiss Life Asset Management Ltd Increases Holdings in Martin Marietta Materials, Inc. $MLM

Swiss Life Asset Management Ltd boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 10.3% in the 4th quarter, Holdings Channel reports. The firm owned 9,395 shares of the construction company’s stock after buying an additional 877 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Martin Marietta Materials were worth $5,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of America Corp DE boosted 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 period. Principal Financial Group Inc. raised its holdings in shares of Martin Marietta Materials by 9.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after buying an additional 192,637 shares during the period. Millennium Management LLC lifted its position in Martin Marietta Materials by 1,570.3% during the 3rd quarter. Millennium Management LLC now owns 108,167 shares of the construction company’s stock worth $68,175,000 after acquiring an additional 115,524 shares in the last quarter. Freestone Grove Partners LP boosted its holdings in Martin Marietta Materials by 748.5% in the 3rd quarter. Freestone Grove Partners LP now owns 124,963 shares of the construction company’s stock worth $78,762,000 after acquiring an additional 110,236 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Martin Marietta Materials by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after acquiring an additional 93,595 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $576.92 on Thursday. The firm has a fifty day moving average of $603.24 and a two-hundred day moving average of $626.18. The firm has a market cap of $34.64 billion, a P/E ratio of 13.75, a P/E/G ratio of 2.11 and a beta of 1.13. Martin Marietta Materials, Inc. has a 1-year low of $532.80 and a 1-year high of $710.97. 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 issued its quarterly earnings results 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 earnings per share. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.27 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Loop Capital cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price on the stock. in a research report on Wednesday, January 28th. Truist Financial lifted their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Royal Bank Of Canada decreased their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a research report on Monday, May 4th. DA Davidson set a $680.00 target price on Martin Marietta Materials in a research note on Thursday, February 12th. Finally, Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $689.81.

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.