Deutsche Bank AG Acquires Shares of 225,927 Martin Marietta Materials, Inc. $MLM

Key Points

• Deutsche Bank acquired 225,927 shares of Martin Marietta Materials in the second quarter, valued at approximately $130.3 million and representing about 0.38% of the company. Institutional investors collectively own 95.04% of MLM.
• Martin Marietta reported quarterly EPS of $5.00, exceeding estimates of $4.76, while revenue reached $1.95 billion—up 21% year over year and above analyst expectations.
• The company raised its quarterly dividend to $0.84 per share, or $3.36 annually, implying a 0.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $668.53.

Deutsche Bank AG acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 225,927 shares of the construction company's stock, valued at approximately $130,292,000. Deutsche Bank AG owned about 0.38% of Martin Marietta Materials as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its position in Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company's stock valued at $379,000 after purchasing an additional 49 shares during the period. Empowered Funds LLC boosted its holdings in shares of Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company's stock valued at $673,000 after acquiring an additional 144 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company's stock valued at $280,000 after acquiring an additional 51 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Martin Marietta Materials by 205.9% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company's stock valued at $143,000 after acquiring an additional 175 shares during the period. Finally, Cresset Asset Management LLC raised its holdings in Martin Marietta Materials by 22.6% during the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company's stock worth $427,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Trading Up 2.5%

NYSE:MLM opened at $535.67 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. Martin Marietta Materials, Inc. has a fifty-two week low of $522.19 and a fifty-two week high of $710.97. The stock's 50-day moving average is $571.26 and its two-hundred day moving average is $597.35. The stock has a market cap of $32.18 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 2.26 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm's revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.43 earnings per share. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. Martin Marietta Materials's payout ratio is currently 8.16%.

Wall Street Analyst Weigh In

MLM has been the topic of a number of research reports. Wall Street Zen downgraded Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Tuesday, July 28th. Oppenheimer started coverage on Martin Marietta Materials in a report on Thursday, May 28th. They set a "market perform" rating on the stock. Raymond James Financial set a $660.00 price target on shares of Martin Marietta Materials in a research report on Friday, July 31st. Wells Fargo & Company cut their price target on shares of Martin Marietta Materials from $616.00 to $581.00 and set an "equal weight" rating for the company in a report on Friday, July 31st. Finally, Truist Financial raised their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and a consensus price target of $668.53.

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.

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