Handelsbanken Fonder AB Raises Position in Martin Marietta Materials, Inc. $MLM

Handelsbanken Fonder AB boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 18.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,395 shares of the construction company’s stock after purchasing an additional 5,780 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of Martin Marietta Materials worth $21,566,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Optima Capital LLC bought a new position in Martin Marietta Materials during the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its position in Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $31,000. Finally, Reflection Asset Management bought a new position in shares of Martin Marietta Materials in the fourth quarter worth approximately $35,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $543.06 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $574.14 and its 200 day simple moving average is $601.27. The stock has a market cap of $32.62 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. Martin Marietta Materials, Inc. has a twelve month low of $523.48 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the company posted $5.43 EPS. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.25 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. UBS Group decreased their price objective on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Citigroup lowered their price objective on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Wolfe Research set a $648.00 target price on shares of Martin Marietta Materials in a report on Tuesday, August 4th. Finally, Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $670.00.

Martin Marietta Materials Company 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.