DekaBank Deutsche Girozentrale Decreases Stake in Martin Marietta Materials, Inc. $MLM

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in Martin Marietta Materials by 11.4%, owning 177,524 shares valued at approximately $97.7 million after selling 22,816 shares in the second quarter.
• Martin Marietta Materials reported earnings of $5.43 EPS, slightly missing analysts' expectations, with revenues of $1.81 billion compared to an estimated $1.88 billion.
• The company announced an increase in its quarterly dividend to $0.83, representing an annualized yield of 0.5%, up from the previous dividend of $0.79.

DekaBank Deutsche Girozentrale lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 11.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 177,524 shares of the construction company's stock after selling 22,816 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.29% of Martin Marietta Materials worth $97,738,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. PDS Planning Inc grew its holdings in Martin Marietta Materials by 4.9% during the 1st quarter. PDS Planning Inc now owns 452 shares of the construction company's stock valued at $216,000 after buying an additional 21 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Martin Marietta Materials by 1.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company's stock worth $661,000 after buying an additional 21 shares during the last quarter. Valley National Advisers Inc. lifted its position in Martin Marietta Materials by 25.8% in the 2nd quarter. Valley National Advisers Inc. now owns 122 shares of the construction company's stock worth $66,000 after buying an additional 25 shares during the last quarter. Trust Investment Advisors lifted its position in Martin Marietta Materials by 1.4% in the first quarter. Trust Investment Advisors now owns 1,843 shares of the construction company's stock valued at $881,000 after purchasing an additional 26 shares during the last quarter. Finally, Willner & Heller LLC lifted its position in Martin Marietta Materials by 3.2% in the first quarter. Willner & Heller LLC now owns 840 shares of the construction company's stock valued at $402,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $627.19 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The company has a market cap of $37.83 billion, a PE ratio of 34.79, a P/E/G ratio of 5.67 and a beta of 1.01. The business has a 50 day moving average of $619.68 and a 200 day moving average of $570.36. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts' consensus estimates of $5.44 by ($0.01). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, September 2nd. Martin Marietta Materials's dividend payout ratio is currently 18.41%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MLM. Stephens reiterated an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. DA Davidson boosted their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Wells Fargo & Company upgraded Martin Marietta Materials to a "hold" rating in a research report on Wednesday, October 8th. Finally, Bank of America boosted their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $626.38.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the transaction, the director owned 15,417 shares in the company, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.68% of the company's stock.

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.

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