Nykredit A S Buys New Shares in Martin Marietta Materials, Inc. $MLM

Key Points

• Nykredit A/S acquired 22,287 shares of Martin Marietta Materials during the second quarter, worth approximately $12.9 million. Institutional investors and hedge funds collectively own 95.04% of the company.
• Martin Marietta reported quarterly revenue of $1.95 billion, up 21% year over year, and EPS of $5.00, exceeding analysts’ $4.76 estimate. The company also raised its quarterly dividend to $0.84 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $667.53, despite the stock trading near its one-year low at $490.70.

Nykredit A S acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,287 shares of the construction company's stock, valued at approximately $12,853,000.

Several other institutional investors also recently modified their holdings of MLM. BlackRock Inc. bought a new position in Martin Marietta Materials during the second quarter worth about $2,706,134,000. Victory Capital Management Inc. boosted its holdings in shares of Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company's stock worth $1,524,853,000 after buying an additional 836,120 shares during the period. Bank of America Corp DE grew its stake in Martin Marietta Materials by 0.9% in the 1st quarter. Bank of America Corp DE now owns 2,399,779 shares of the construction company's stock valued at $1,412,702,000 after buying an additional 21,310 shares during the last quarter. Geode Capital Management LLC raised its holdings in Martin Marietta Materials by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company's stock valued at $963,406,000 after acquiring an additional 10,743 shares during the period. Finally, King Luther Capital Management Corp boosted its holdings in shares of Martin Marietta Materials by 0.7% during the fourth quarter. King Luther Capital Management Corp now owns 690,128 shares of the construction company's stock worth $429,715,000 after acquiring an additional 5,025 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 0.0%

NYSE:MLM opened at $490.70 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. Martin Marietta Materials, Inc. has a one year low of $488.74 and a one year high of $710.97. The company has a market cap of $29.47 billion, a PE ratio of 12.06, a PEG ratio of 2.16 and a beta of 1.10. The firm has a 50-day moving average of $536.26 and a 200-day moving average of $572.49.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned $5.43 EPS. The company's quarterly revenue was up 21.0% on a year-over-year basis. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 18.69 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a $0.84 dividend. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials's payout ratio is presently 8.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. raised Martin Marietta Materials from a "neutral" rating to an "overweight" rating and set a $680.00 target price on the stock in a research report on Wednesday, September 2nd. Royal Bank Of Canada lifted their price objective on shares of Martin Marietta Materials from $610.00 to $620.00 and gave the stock a "sector perform" rating in a research note on Friday, August 28th. Wells Fargo & Company raised Martin Marietta Materials from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $581.00 to $609.00 in a report on Wednesday, September 9th. Wall Street Zen cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Tuesday, July 28th. Finally, Sanford C. Bernstein downgraded Martin Marietta Materials to an "underweight" rating in a report on Wednesday, September 2nd. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus target price of $667.53.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a U.S.-based supplier of construction aggregates and other building materials. The company produces crushed stone, sand and gravel used in infrastructure, commercial, residential and industrial construction projects.

Its products and services also include cement, ready-mixed concrete, asphalt and paving materials. Martin Marietta serves customers involved in roads, bridges, airports, buildings and other essential infrastructure, with operations concentrated across several regions of the United States.

The company was established in 1993 as an independent, publicly traded materials business formed from the construction materials operations of Martin Marietta Corporation.

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