Martin Marietta Materials, Inc. $MLM Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 111,620 shares of the construction company’s stock after buying an additional 6,686 shares during the period. Hsbc Holdings PLC’s holdings in Martin Marietta Materials were worth $65,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MLM. Northwestern Mutual Wealth Management Co. increased its position in Martin Marietta Materials by 14,332.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock valued at $48,438,000 after acquiring an additional 77,253 shares during the period. Gradient Investments LLC boosted its position in Martin Marietta Materials by 9.7% during the 4th quarter. Gradient Investments LLC now owns 44,209 shares of the construction company’s stock worth $27,527,000 after acquiring an additional 3,903 shares during the period. SG Americas Securities LLC grew its stake in shares of Martin Marietta Materials by 66.7% in the fourth quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company’s stock worth $5,801,000 after purchasing an additional 3,728 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Martin Marietta Materials by 17.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company’s stock worth $7,318,000 after purchasing an additional 1,778 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Martin Marietta Materials during the third quarter valued at $3,646,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $563.57 on Monday. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The stock has a market cap of $33.84 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. The company’s 50-day moving average price is $578.36 and its two-hundred day moving average price is $612.74.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 EPS. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 7.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday. Barclays lowered their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Raymond James Financial reduced their price target on shares of Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Oppenheimer began coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $681.53.

Martin Marietta Materials Profile

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.