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

Raiffeisen Bank International AG increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 35.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,712 shares of the construction company’s stock after acquiring an additional 981 shares during the period. Raiffeisen Bank International AG’s holdings in Martin Marietta Materials were worth $2,306,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MLM. Bank of America Corp DE raised its holdings in Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after acquiring an additional 565,856 shares during the last quarter. Norges Bank acquired a new stake in shares of Martin Marietta Materials during the second quarter worth $233,811,000. Principal Financial Group Inc. grew its position in shares of Martin Marietta Materials by 9.6% in the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after purchasing an additional 192,637 shares during the period. Vanguard Group Inc. increased its stake in Martin Marietta Materials by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after purchasing an additional 93,595 shares during the last quarter. Finally, State Street Corp increased its stake in Martin Marietta Materials by 2.0% in the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after purchasing an additional 56,353 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $686.51 on Friday. The company has a market cap of $41.40 billion, a price-to-earnings ratio of 36.52, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The stock’s 50-day moving average is $651.62 and its 200-day moving average is $629.01.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company posted $4.79 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be given a $0.83 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is presently 17.66%.

Wall Street Analyst Weigh In

MLM has been the topic of a number of research analyst reports. Citigroup raised their price target on Martin Marietta Materials from $758.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Royal Bank Of Canada cut their price objective on shares of Martin Marietta Materials from $605.00 to $575.00 and set a “sector perform” rating on the stock in a report on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and issued a $706.00 target price on shares of Martin Marietta Materials in a research report on Tuesday. Loop Capital downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a report on Wednesday, January 28th. Finally, Stephens dropped their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $690.69.

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.