11,264 Shares of Martin Marietta Materials, Inc. $MLM Acquired by AMF Tjanstepension AB

AMF Tjanstepension AB acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,264 shares of the construction company's stock, valued at approximately $5,405,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLM. Meeder Asset Management Inc. grew its stake in Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock worth $28,000 after purchasing an additional 19 shares in the last quarter. CoreCap Advisors LLC increased its holdings in Martin Marietta Materials by 370.0% during the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company's stock worth $27,000 after purchasing an additional 37 shares during the period. Activest Wealth Management increased its holdings in Martin Marietta Materials by 1,633.3% during the 3rd quarter. Activest Wealth Management now owns 52 shares of the construction company's stock worth $25,000 after purchasing an additional 49 shares during the period. EFG International AG bought a new stake in Martin Marietta Materials during the 2nd quarter valued at $39,000. Finally, GK Wealth Management LLC bought a new stake in Martin Marietta Materials during the 3rd quarter valued at $32,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Up 1.5%

Shares of NYSE MLM opened at $516.88 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $464.92 and a 12-month high of $710.97. The stock's fifty day simple moving average is $504.08 and its two-hundred day simple moving average is $554.62. The stock has a market capitalization of $31.05 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. 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 - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS 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 during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $5.43 EPS. The business's revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, analysts expect that Martin Marietta Materials, Inc. will post 16.29 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were issued a $0.84 dividend. This is a boost 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 was Tuesday, September 1st. Martin Marietta Materials's dividend payout ratio is presently 8.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MLM shares. UBS Group lowered their target price on Martin Marietta Materials from $715.00 to $662.00 and set a "buy" rating for the company in a report on Thursday, October 8th. Zacks Research lowered Martin Marietta Materials from a "hold" rating to a "strong sell" rating in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on Martin Marietta Materials from $680.00 to $650.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 13th. Truist Financial decreased their price objective on Martin Marietta Materials from $730.00 to $625.00 and set a "buy" rating for the company in a report on Monday, October 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Martin Marietta Materials from $585.00 to $579.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. Thirteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average target price of $642.65.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a supplier of construction materials serving the infrastructure, commercial, residential and industrial markets. The company's primary business is aggregates, including crushed stone, sand and gravel used in roads, bridges, buildings and other construction projects.

Martin Marietta also produces cement, ready-mixed concrete and asphalt products, and provides paving and related construction services in selected markets. Through its Magnesia Specialties business, the company manufactures magnesium-based and dolomitic lime products used in industrial, environmental and agricultural applications.

Headquartered in Raleigh, North Carolina, Martin Marietta Materials became an independent publicly traded company in 1993 following a spin-off from Martin Marietta Corporation.

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