Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Tredje AP fonden

Key Points

• Tredje AP fonden reduced its holdings in Martin Marietta Materials by 80.1%, ending with a total of 4,886 shares worth approximately $2.34 million.
• Martin Marietta reported quarterly earnings of $1.90 per share, slightly surpassing analysts' expectations of $1.88, while experiencing 8.2% revenue growth year-over-year.
• The company recently declared a quarterly dividend of $0.79 per share, with an annualized dividend yield of 0.55%.

Tredje AP fonden lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 80.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,886 shares of the construction company's stock after selling 19,700 shares during the period. Tredje AP fonden's holdings in Martin Marietta Materials were worth $2,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Martin Marietta Materials by 58,570.5% in the first quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock valued at $333,540,000 after purchasing an additional 696,403 shares during the last quarter. Alkeon Capital Management LLC grew its holdings in Martin Marietta Materials by 46.6% in the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock valued at $398,324,000 after purchasing an additional 245,000 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Martin Marietta Materials by 39.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company's stock valued at $315,261,000 after purchasing an additional 185,731 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Martin Marietta Materials by 6.6% in the first quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company's stock valued at $927,775,000 after purchasing an additional 120,679 shares during the last quarter. Finally, Skye Global Management LP grew its holdings in Martin Marietta Materials by 85.2% in the fourth quarter. Skye Global Management LP now owns 256,500 shares of the construction company's stock valued at $132,482,000 after purchasing an additional 118,000 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MLM. Morgan Stanley upped their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price objective for the company from $548.00 to $634.00 in a research report on Friday, May 16th. Raymond James Financial reduced their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus upped their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $605.93.

Martin Marietta Materials Trading Up 5.3%

Shares of Martin Marietta Materials stock traded up $30.71 during trading hours on Monday, reaching $608.57. The stock had a trading volume of 359,265 shares, compared to its average volume of 479,780. The firm has a 50 day simple moving average of $556.45 and a two-hundred day simple moving average of $526.29. The firm has a market capitalization of $36.69 billion, a price-to-earnings ratio of 35.01, a P/E/G ratio of 5.29 and a beta of 0.89. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23.

Martin Marietta Materials Dividend Announcement

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

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.