27,198 Shares in Martin Marietta Materials, Inc. $MLM Bought by Danske Bank A S

Key Points

• Danske Bank purchased 27,198 shares of Martin Marietta Materials in the second quarter, valued at approximately $15.7 million. Institutional investors collectively own 95.04% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $668.53, despite several recent target-price reductions.
• Martin Marietta exceeded quarterly expectations, reporting $5.00 in earnings per share and $1.95 billion in revenue, while revenue rose 21% year over year. The company also increased its quarterly dividend to $0.84 per share.

Danske Bank A S purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,198 shares of the construction company's stock, valued at approximately $15,685,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its stake in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock valued at $28,000 after buying an additional 19 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company's stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $31,000. Reflection Asset Management acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth about $35,000. Finally, Quarry LP acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter worth about $38,000. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MLM has been the subject of several analyst reports. Wolfe Research set a $648.00 price objective on Martin Marietta Materials in a research note on Tuesday, August 4th. JPMorgan Chase & Co. cut their target price on Martin Marietta Materials from $700.00 to $680.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. UBS Group decreased their price target on Martin Marietta Materials from $739.00 to $715.00 and set a "buy" rating for the company in a report on Monday, August 3rd. Morgan Stanley lowered their price target on Martin Marietta Materials from $664.00 to $639.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Finally, Stephens cut their price objective on shares of Martin Marietta Materials from $700.00 to $680.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $668.53.

Martin Marietta Materials Price Performance

MLM opened at $526.06 on Friday. The firm has a 50-day moving average price of $570.47 and a 200-day moving average price of $596.46. Martin Marietta Materials, Inc. has a twelve month low of $522.19 and a twelve month high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $31.60 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 2.31 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating analysts' consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same period in the prior year, the company posted $5.43 EPS. Martin Marietta Materials's revenue was up 21.0% compared to the same quarter last year. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.84 per share. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Martin Marietta Materials's dividend payout ratio (DPR) is currently 8.16%.

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.

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