Nykredit A S Invests $14.64 Million in Martin Marietta Materials, Inc. $MLM

Nykredit A S bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 25,384 shares of the construction company’s stock, valued at approximately $14,639,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lido Advisors LLC increased its position in Martin Marietta Materials by 0.8% during the fourth quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock worth $1,209,000 after buying an additional 15 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after buying an additional 16 shares during the last quarter. AMG National Trust Bank boosted its stake in shares of Martin Marietta Materials by 3.6% during the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock worth $291,000 after acquiring an additional 17 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after acquiring an additional 17 shares during the period. Finally, AlTi Global Inc. increased its holdings in shares of Martin Marietta Materials by 1.2% during the 1st quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock worth $881,000 after acquiring an additional 18 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $516.12 on Friday. The stock has a 50 day simple moving average of $552.62 and a 200 day simple moving average of $585.34. The stock has a market cap of $31.00 billion, a P/E ratio of 12.68, a PEG ratio of 2.20 and a beta of 1.10. Martin Marietta Materials, Inc. has a 1-year low of $502.56 and a 1-year high of $710.97. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business earned $5.43 EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a dividend of $0.84 per share. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials’s payout ratio is 8.26%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings cut Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Wolfe Research set a $648.00 price objective on shares of Martin Marietta Materials in a report on Tuesday, August 4th. UBS Group dropped their price objective on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Sanford C. Bernstein cut shares of Martin Marietta Materials to an “underweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and set a $680.00 target price for the company in a report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $665.88.

Martin Marietta Materials Company 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.