Raiffeisen Bank International AG Buys 1,448 Shares of Martin Marietta Materials, Inc. $MLM

Raiffeisen Bank International AG raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 45.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MLM. CoreCap Advisors LLC boosted its stake in Martin Marietta Materials by 370.0% during the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $31,000. Reflection Asset Management acquired a new stake in Martin Marietta Materials in the fourth quarter worth $35,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Martin Marietta Materials in the second quarter worth $37,000. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MLM shares. Morgan Stanley decreased their price target on shares of Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Wolfe Research set a $648.00 target price on Martin Marietta Materials in a report on Tuesday, August 4th. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on Martin Marietta Materials from $610.00 to $620.00 and gave the company a “sector perform” rating in a research note on Friday, August 28th. Finally, Oppenheimer began coverage on Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $665.88.

Martin Marietta Materials Stock Up 1.4%

Shares of MLM stock opened at $516.12 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $502.56 and a 12-month high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $552.62 and a 200-day moving average of $585.34. The company has a market capitalization of $31.00 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 2.20 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 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 business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $5.43 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

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.