PensionDanmark Pensionsforsikringsaktieselskab Decreases Position in Martin Marietta Materials, Inc. $MLM

PensionDanmark Pensionsforsikringsaktieselskab reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 54.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,532 shares of the construction company’s stock after selling 20,900 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Martin Marietta Materials were worth $10,111,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 51.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Martin Marietta Materials by 0.9% in the first 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 purchasing an additional 21,310 shares during the period. Geode Capital Management LLC grew its holdings in Martin Marietta Materials by 0.7% during 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 purchasing an additional 10,743 shares in the last quarter. Morgan Stanley increased its stake in Martin Marietta Materials by 5.3% during the 4th quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock worth $851,188,000 after buying an additional 68,382 shares during the period. Finally, Invesco Ltd. increased its stake in Martin Marietta Materials by 9.3% during the 4th quarter. Invesco Ltd. now owns 769,904 shares of the construction company’s stock worth $479,389,000 after buying an additional 65,623 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. UBS Group cut their price target on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Citigroup reduced their price target on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Raymond James Financial set a $660.00 price target on shares of Martin Marietta Materials in a research note on Friday, July 31st. Finally, Wolfe Research set a $648.00 price objective on Martin Marietta Materials in a report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $670.00.

Martin Marietta Materials Stock Performance

MLM opened at $548.50 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $523.48 and a 1-year high of $710.97. The company has a market capitalization of $32.95 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 2.35 and a beta of 1.11. The business has a 50 day moving average price of $575.90 and a two-hundred day moving average price of $603.58. 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 (NYSE:MLM) last announced its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.87 billion. During the same quarter last year, the business posted $5.43 earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Research analysts predict that Martin Marietta Materials, Inc. will post 19.25 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is 8.16%.

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.