DekaBank Deutsche Girozentrale Has $95.56 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

DekaBank Deutsche Girozentrale reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 177,524 shares of the construction company’s stock after selling 1,422 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.29% of Martin Marietta Materials worth $95,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MLM. Newbridge Financial Services Group Inc. lifted its holdings in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after buying an additional 37 shares during the period. Asset Dedication LLC raised its position in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at $31,000. Fortitude Family Office LLC boosted its position in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials during the first quarter worth $41,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

MLM opened at $570.21 on Monday. The company has a market capitalization of $35.15 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 4.62 and a beta of 0.91. The business’s 50-day moving average price is $536.79 and its two-hundred day moving average price is $556.47. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.60 EPS. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.55%. Martin Marietta Materials’s dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MLM. Citigroup cut their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Truist Financial reduced their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Loop Capital decreased their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group decreased their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $619.36.

Martin Marietta Materials 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.