Martin Marietta Materials, Inc. $MLM Stake Reduced by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions cut its Martin Marietta Materials stake by 54.9% in the first quarter, selling 8,455 shares and leaving it with 6,934 shares valued at about $4.08 million.
• Analyst sentiment remains broadly positive: the stock has a Moderate Buy consensus, with 11 Buy ratings and 9 Hold ratings, and an average price target of $681.53.
• Martin Marietta Materials reported better-than-expected Q1 earnings of $1.93 EPS on $1.36 billion in revenue, while also paying a quarterly dividend of $0.83 per share.

ABN Amro Investment Solutions trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 54.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,934 shares of the construction company's stock after selling 8,455 shares during the quarter. ABN Amro Investment Solutions' holdings in Martin Marietta Materials were worth $4,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MLM. Optima Capital LLC acquired a new position in Martin Marietta Materials in the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its position in shares of Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock valued at $28,000 after acquiring an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $31,000. Reflection Asset Management bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth $35,000. Finally, Quarry LP bought a new stake in shares of Martin Marietta Materials during the 3rd quarter worth $38,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MLM shares. Weiss Ratings raised Martin Marietta Materials from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, June 25th. UBS Group set a $739.00 price target on Martin Marietta Materials in a research report on Sunday, May 10th. Royal Bank Of Canada cut their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a "sector perform" rating on the stock in a report on Monday, May 4th. Barclays reduced their price objective on shares of Martin Marietta Materials from $675.00 to $640.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company raised their target price on shares of Martin Marietta Materials from $614.00 to $616.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $681.53.

Martin Marietta Materials Trading Down 0.7%

Shares of NYSE MLM opened at $546.91 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97. The business has a 50-day moving average price of $575.94 and a two-hundred day moving average price of $610.54. The firm has a market capitalization of $32.84 billion, a PE ratio of 13.03, a PEG ratio of 2.33 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the prior year, the firm earned $1.90 earnings per share. The firm's revenue was up 17.2% compared to the same quarter last year. As a group, analysts predict that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

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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