Forsta AP Fonden Has $8.18 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• Forsta AP Fonden reduced its holdings in Martin Marietta Materials, Inc. by 22.6%, ending the quarter with 17,100 shares valued at approximately $8.18 million.
• Martin Marietta reported earnings per share of $5.43 for the last quarter, slightly missing the consensus estimate of $5.44, while revenue was $1.81 billion, below the expected $1.88 billion.
• The company recently announced a quarterly dividend of $0.79, resulting in an annualized yield of 0.5%.

Forsta AP Fonden cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 22.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,100 shares of the construction company's stock after selling 5,000 shares during the quarter. Forsta AP Fonden's holdings in Martin Marietta Materials were worth $8,176,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Martin Marietta Materials during the first quarter worth about $29,000. Chilton Capital Management LLC acquired a new stake in Martin Marietta Materials during the first quarter worth about $30,000. IMA Advisory Services Inc. acquired a new stake in Martin Marietta Materials during the first quarter worth about $40,000. Bellwether Advisors LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $46,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $47,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

MLM stock opened at $612.09 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 0.99. The company has a 50 day moving average price of $561.39 and a 200 day moving average price of $528.42. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The stock has a market capitalization of $36.90 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 5.59 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $4.76 EPS. The business's revenue for the quarter was up 2.7% on a year-over-year basis. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's payout ratio is 18.20%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MLM shares. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $548.00 to $634.00 in a report on Friday, May 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a report on Friday. Bank of America lifted their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $615.60.

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.

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