Swedbank AB Buys 2,673 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Swedbank AB boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 326.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,492 shares of the construction company's stock after purchasing an additional 2,673 shares during the quarter. Swedbank AB's holdings in Martin Marietta Materials were worth $1,880,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Tidal Investments LLC lifted its position in Martin Marietta Materials by 14.0% in the first quarter. Tidal Investments LLC now owns 3,632 shares of the construction company's stock worth $2,230,000 after purchasing an additional 445 shares during the period. Strategic Wealth Partners Ltd. purchased a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $298,000. Virtu Financial LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $819,000. Atria Investments Inc grew its stake in shares of Martin Marietta Materials by 3.1% in the 1st quarter. Atria Investments Inc now owns 12,205 shares of the construction company's stock valued at $7,480,000 after buying an additional 363 shares in the last quarter. Finally, Beck Bode LLC increased its holdings in Martin Marietta Materials by 40.0% in the first quarter. Beck Bode LLC now owns 8,388 shares of the construction company's stock worth $5,150,000 after buying an additional 2,395 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analyst Weigh In

MLM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a "neutral" rating to an "overweight" rating and raised their price target for the company from $515.00 to $640.00 in a report on Wednesday. Morgan Stanley boosted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. Jefferies Financial Group lowered their price target on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. StockNews.com upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Thursday, November 21st. Finally, Loop Capital raised their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $644.46.

Martin Marietta Materials Stock Down 0.2 %

Shares of Martin Marietta Materials stock traded down $1.37 during trading on Thursday, reaching $595.60. The stock had a trading volume of 379,164 shares, compared to its average volume of 447,454. The company has a market capitalization of $36.40 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 4.10 and a beta of 0.90. The stock has a fifty day moving average price of $569.17 and a two-hundred day moving average price of $556.36. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $6.94 earnings per share. The firm's quarterly revenue was down 5.3% on a year-over-year basis. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio is 9.85%.

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.