Forsta AP Fonden Has $11.42 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Forsta AP Fonden lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,100 shares of the construction company's stock after acquiring an additional 4,300 shares during the quarter. Forsta AP Fonden's holdings in Martin Marietta Materials were worth $11,415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $41,000. Union Bancaire Privee UBP SA acquired a new stake in Martin Marietta Materials during the 4th quarter worth about $547,000. Blue Trust Inc. lifted its stake in Martin Marietta Materials by 15.6% during the fourth quarter. Blue Trust Inc. now owns 747 shares of the construction company's stock valued at $402,000 after buying an additional 101 shares in the last quarter. High Net Worth Advisory Group LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth about $202,000. Finally, Stablepoint Partners LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter worth approximately $472,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

MLM stock traded down $7.63 during mid-day trading on Monday, reaching $536.50. 208,367 shares of the stock traded hands, compared to its average volume of 349,068. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $546.41 and a two-hundred day moving average of $550.93. The firm has a market capitalization of $32.79 billion, a PE ratio of 16.75, a P/E/G ratio of 4.60 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52 week low of $490.05 and a 52 week high of $633.23.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Monday, December 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is currently 9.85%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MLM shares. Barclays upped their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Morgan Stanley dropped their price target on Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Raymond James reduced their price target on shares of Martin Marietta Materials from $640.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, January 16th. Wolfe Research raised shares of Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price target on the stock in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group reduced their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $648.71.

Martin Marietta Materials Company 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.