Martin Marietta Materials, Inc. $MLM Shares Sold by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB trimmed its holdings by 37.5%, selling 3,630 shares and leaving 6,062 shares of Martin Marietta worth $3.81 million at quarter-end.
• Martin Marietta missed quarterly expectations, reporting $4.62 EPS versus $4.81 expected and $1.53 billion in revenue versus $1.66 billion expected, though revenue rose 9.3% year-over-year.
• The company declared a $0.83 quarterly dividend (annualized $3.32, yield ~0.6%; ex-dividend March 2, payable March 31), and analysts have a consensus "Hold" with an average price target of $696.88.

Nordea Investment Management AB trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 37.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,062 shares of the construction company's stock after selling 3,630 shares during the period. Nordea Investment Management AB's holdings in Martin Marietta Materials were worth $3,810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. Schear Investment Advisers LLC lifted its stake in shares of Martin Marietta Materials by 0.6% in the 3rd quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company's stock valued at $1,721,000 after purchasing an additional 16 shares during the last quarter. Daymark Wealth Partners LLC increased its position in shares of Martin Marietta Materials by 3.9% during the 3rd quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company's stock worth $283,000 after purchasing an additional 17 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Martin Marietta Materials by 2.9% in the 3rd quarter. Ritholtz Wealth Management now owns 646 shares of the construction company's stock valued at $407,000 after buying an additional 18 shares during the period. Vise Technologies Inc. raised its holdings in Martin Marietta Materials by 2.5% in the 3rd quarter. Vise Technologies Inc. now owns 731 shares of the construction company's stock valued at $461,000 after buying an additional 18 shares during the period. Finally, Snowden Capital Advisors LLC lifted its position in Martin Marietta Materials by 1.9% in the second quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company's stock valued at $533,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 1.5%

Shares of NYSE:MLM opened at $571.20 on Friday. The firm has a market capitalization of $34.45 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 2.27 and a beta of 1.13. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $710.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The firm's 50-day moving average is $639.88 and its two-hundred day moving average is $629.65.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the previous year, the business posted $4.79 EPS. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is currently 17.66%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Martin Marietta Materials from $706.00 to $702.00 and set an "overweight" rating for the company in a research note on Monday, March 9th. Royal Bank Of Canada restated a "sector perform" rating and issued a $630.00 price objective on shares of Martin Marietta Materials in a report on Thursday, February 26th. Wells Fargo & Company lowered their price objective on shares of Martin Marietta Materials from $631.00 to $612.00 and set an "equal weight" rating for the company in a research report on Thursday, February 12th. Weiss Ratings lowered Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, February 23rd. Finally, B. Riley Financial assumed coverage on Martin Marietta Materials in a research note on Thursday, January 15th. They set a "neutral" rating and a $700.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of "Hold" and an average target price of $696.88.

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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