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

Raiffeisen Bank International AG grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,731 shares of the construction company’s stock after acquiring 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 and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Martin Marietta Materials by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock valued at $3,510,602,000 after purchasing an additional 168,175 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Martin Marietta Materials by 10.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company’s stock valued at $1,407,947,000 after buying an additional 268,928 shares in the last quarter. Amundi raised its position in shares of Martin Marietta Materials by 9.2% during the 1st quarter. Amundi now owns 1,706,416 shares of the construction company’s stock valued at $827,345,000 after buying an additional 144,270 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Martin Marietta Materials by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,520,932 shares of the construction company’s stock worth $831,331,000 after acquiring an additional 4,666 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in Martin Marietta Materials by 39.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock worth $315,261,000 after acquiring an additional 185,731 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MLM shares. Stephens reaffirmed an “overweight” rating and set a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. Bank of America raised their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Morgan Stanley upped their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Barclays increased their price target on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, DA Davidson set a $690.00 price target on shares of Martin Marietta Materials in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $644.38.

Martin Marietta Materials Trading Up 0.6%

Shares of MLM stock opened at $593.50 on Wednesday. The business has a 50-day moving average of $619.87 and a 200 day moving average of $588.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $665.18. The stock has a market capitalization of $35.79 billion, a PE ratio of 32.92, a P/E/G ratio of 5.57 and a beta of 1.06.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is presently 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.