SEB Asset Management AB Makes New $7.19 Million Investment in Martin Marietta Materials, Inc. $MLM

SEB Asset Management AB bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,216 shares of the construction company’s stock, valued at approximately $7,191,000.

A number of other hedge funds also recently made changes to their positions in the stock. Optima Capital LLC acquired a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth $31,000. Reflection Asset Management acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth $35,000. Quarry LP bought a new position in shares of Martin Marietta Materials in the 3rd quarter valued at $38,000. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Martin Marietta Materials by 74.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 61 shares of the construction company’s stock valued at $38,000 after acquiring an additional 26 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $547.33 on Wednesday. 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 firm’s fifty day simple moving average is $577.03 and its two-hundred day simple moving average is $611.66. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97. The stock has a market capitalization of $32.87 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the company posted $1.90 EPS. As a group, analysts predict that Martin Marietta Materials, Inc. will post 19.43 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.

Analysts Set New Price Targets

MLM has been the topic of several recent research reports. Barclays cut their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Raymond James Financial dropped their target price on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. UBS Group set a $739.00 price target on Martin Marietta Materials in a research note on Sunday, May 10th. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, Morgan Stanley reduced their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $681.53.

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.