Handelsbanken Fonder AB Sells 2,389 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Handelsbanken Fonder AB trimmed its Martin Marietta Materials stake by 6.9% in the fourth quarter, selling 2,389 shares and leaving it with 32,042 shares worth about $19.95 million.
• Despite the sale, institutional ownership remains high, with 95.04% of Martin Marietta Materials stock held by institutional investors.
• The company recently beat quarterly earnings expectations, reporting $1.93 EPS on $1.36 billion in revenue, and it also announced a $0.83 quarterly dividend payable June 30.

Handelsbanken Fonder AB reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,042 shares of the construction company's stock after selling 2,389 shares during the quarter. Handelsbanken Fonder AB owned 0.05% of Martin Marietta Materials worth $19,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLM. Integrated Wealth Concepts LLC grew its stake in shares of Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company's stock valued at $379,000 after buying an additional 49 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Martin Marietta Materials by 11.4% during the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company's stock valued at $673,000 after buying an additional 144 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company's stock valued at $280,000 after buying an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Martin Marietta Materials by 205.9% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company's stock valued at $143,000 after buying an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC grew its stake in shares of Martin Marietta Materials by 22.6% during the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company's stock valued at $427,000 after buying an additional 143 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $541.32 on Thursday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $595.04 and a 200-day moving average of $623.93. The firm has a market cap of $32.51 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.93 and a beta of 1.13. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business posted $1.90 earnings per share. Martin Marietta Materials's quarterly revenue was up 17.2% compared to the same quarter last year. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.32 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a $0.83 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials's dividend payout ratio (DPR) is 7.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MLM shares. Loop Capital cut Martin Marietta Materials from a "buy" rating to a "hold" rating and set a $690.00 price objective on the stock. in a research note on Wednesday, January 28th. Zacks Research upgraded shares of Martin Marietta Materials from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Morgan Stanley dropped their target price on shares of Martin Marietta Materials from $702.00 to $664.00 and set an "overweight" rating for the company in a report on Monday, April 6th. UBS Group set a $739.00 target price on shares of Martin Marietta Materials in a report on Sunday, May 10th. Finally, Wells Fargo & Company increased their target price on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average price target of $689.81.

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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