Raiffeisen Bank International AG Grows Stake in Martin Marietta Materials, Inc. $MLM

Raiffeisen Bank International AG raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,731 shares of the construction company’s stock after buying an additional 260 shares during the quarter. Raiffeisen Bank International AG’s holdings in Martin Marietta Materials were worth $1,460,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MLM. Zions Bancorporation National Association UT purchased a new stake in Martin Marietta Materials in the first quarter worth $30,000. NewSquare Capital LLC increased its position in Martin Marietta Materials by 62.2% during the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after purchasing an additional 23 shares during the period. Clearstead Trust LLC raised its holdings in Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after purchasing an additional 30 shares in the last quarter. Aspect Partners LLC lifted its position in shares of Martin Marietta Materials by 540.0% in the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after purchasing an additional 54 shares during the period. Finally, IMA Advisory Services Inc. purchased a new stake in shares of Martin Marietta Materials in the 1st quarter worth about $40,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. UBS Group upped their target price on Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Barclays upped their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Royal Bank Of Canada restated a “sector perform” rating and issued a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Finally, DA Davidson set a $690.00 price target on Martin Marietta Materials in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $644.38.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $593.50 on Wednesday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The company has a market capitalization of $35.79 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 5.57 and a beta of 1.06. The company has a 50 day simple moving average of $619.87 and a two-hundred day simple moving average of $588.60.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio is currently 17.50%.

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.