Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Swedbank AB

Swedbank AB trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 25.3% in the fourth quarter, HoldingsChannel reports. The firm owned 2,607 shares of the construction company’s stock after selling 885 shares during the period. Swedbank AB’s holdings in Martin Marietta Materials were worth $1,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after acquiring an additional 506,705 shares during the last quarter. FMR LLC lifted its stake in Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after buying an additional 334,605 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after buying an additional 704,460 shares during the period. Franklin Resources Inc. raised its holdings in shares of Martin Marietta Materials by 1.9% during the third quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock valued at $295,397,000 after acquiring an additional 9,908 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after acquiring an additional 164,503 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MLM shares. Jefferies Financial Group cut their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Citigroup lowered their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a research note on Wednesday, December 11th. Finally, Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $648.71.

Martin Marietta Materials Trading Down 0.4 %

Shares of NYSE:MLM opened at $543.92 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock’s 50-day moving average is $546.41 and its 200-day moving average is $550.93. The company has a market cap of $33.24 billion, a P/E ratio of 16.95, a P/E/G ratio of 4.57 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 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.