Skandinaviska Enskilda Banken AB publ Grows Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Skandinaviska Enskilda Banken AB publ grew its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,419 shares of the construction company’s stock after purchasing an additional 400 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Martin Marietta Materials were worth $6,729,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $25,000. Riverview Trust Co purchased a new position in Martin Marietta Materials in the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in Martin Marietta Materials in the 1st quarter worth approximately $31,000. Fortitude Family Office LLC lifted its stake in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in Martin Marietta Materials in the 1st quarter worth approximately $41,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MLM shares. Stifel Nicolaus reduced their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial reduced their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Stephens reduced their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Citigroup reduced their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $629.82.

Martin Marietta Materials Stock Down 0.4 %

Shares of NYSE MLM opened at $546.29 on Friday. The firm has a market cap of $33.67 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 3.52 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The business’s 50 day moving average is $540.85 and its two-hundred day moving average is $566.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 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 return on equity of 13.85% and a net margin of 30.80%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $5.60 EPS. Research analysts predict that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. Martin Marietta Materials’s payout ratio is 9.36%.

Martin Marietta Materials 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.