Raiffeisen Bank International AG Has $2.71 Million Holdings in Martin Marietta Materials, Inc. $MLM

Raiffeisen Bank International AG grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 45.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,657 shares of the construction company’s stock after buying an additional 1,448 shares during the quarter. Raiffeisen Bank International AG’s holdings in Martin Marietta Materials were worth $2,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Lido Advisors LLC increased its holdings in Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after purchasing an additional 15 shares in the last quarter. Harbour Investments Inc. raised its position in Martin Marietta Materials by 31.4% in the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. AMG National Trust Bank boosted its stake in Martin Marietta Materials by 3.6% in the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock worth $291,000 after purchasing an additional 17 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Martin Marietta Materials by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after purchasing an additional 17 shares during the last quarter. Finally, AlTi Global Inc. grew its holdings in shares of Martin Marietta Materials by 1.2% during the first quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock worth $881,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup cut their price target on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Raymond James Financial set a $660.00 price objective on shares of Martin Marietta Materials in a report on Friday, July 31st. Weiss Ratings cut shares of Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Wells Fargo & Company dropped their target price on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Finally, Stephens lowered their price target on shares of Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $665.88.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $516.12 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 1-year low of $502.56 and a 1-year high of $710.97. The stock has a market capitalization of $31.00 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.20 and a beta of 1.10. The business has a 50-day moving average price of $552.62 and a two-hundred day moving average price of $585.34.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm earned $5.43 EPS. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.7%. Martin Marietta Materials’s payout ratio is 8.26%.

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.