Andra AP fonden Makes New $8.80 Million Investment in Martin Marietta Materials, Inc. $MLM

Key Points

• Andra AP fonden initiated a new position in Martin Marietta Materials during the first quarter, buying 14,947 shares valued at about $8.8 million.
• The company’s latest quarterly results topped expectations, with EPS of $1.93 and revenue of $1.36 billion, while revenue rose 17.2% year over year.
• Martin Marietta also paid a quarterly dividend of $0.83 per share, and analysts currently rate the stock a Moderate Buy with a consensus target price of $681.53.

Andra AP fonden bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 14,947 shares of the construction company's stock, valued at approximately $8,799,000.

Other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Martin Marietta Materials by 14,332.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company's stock valued at $48,438,000 after buying an additional 77,253 shares during the last quarter. SG Americas Securities LLC boosted its stake in Martin Marietta Materials by 66.7% during the fourth quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company's stock worth $5,801,000 after buying an additional 3,728 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Martin Marietta Materials by 17.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company's stock worth $7,318,000 after purchasing an additional 1,778 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Martin Marietta Materials by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company's stock valued at $80,272,000 after acquiring an additional 5,227 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company's stock valued at $1,524,853,000 after buying an additional 836,120 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $547.33 on Wednesday. The stock's 50 day moving average price is $577.03 and its 200 day moving average price is $611.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The firm has a market capitalization of $32.87 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97.

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

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials's dividend payout ratio (DPR) is presently 7.91%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Monday. Barclays reduced their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. UBS Group set a $739.00 target price on shares of Martin Marietta Materials in a research note on Sunday, May 10th. Raymond James Financial cut their price objective 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. Finally, Zacks Research upgraded Martin Marietta Materials from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $681.53.

About Martin Marietta Materials

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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