Raiffeisen Bank International AG Acquires New Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• Raiffeisen Bank International AG has acquired a new stake in Martin Marietta Materials, purchasing 2,471 shares valued at approximately $1,181,000.
• Martin Marietta Materials recently announced a quarterly dividend of $0.79 per share, translating to an annual yield of 0.5% with a payout ratio of 18.20%.
• Equities analysts have varied price targets for Martin Marietta Materials, with Morgan Stanley increasing their target to $605.00 and twelve analysts rating it as a buy.

Raiffeisen Bank International AG acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,471 shares of the construction company's stock, valued at approximately $1,181,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Martin Marietta Materials during the first quarter valued at approximately $29,000. Chilton Capital Management LLC purchased a new position in Martin Marietta Materials during the first quarter worth approximately $30,000. IMA Advisory Services Inc. purchased a new position in Martin Marietta Materials during the first quarter worth approximately $40,000. Valley National Advisers Inc. raised its stake in Martin Marietta Materials by 193.9% during the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after purchasing an additional 64 shares during the period. Finally, Bellwether Advisors LLC purchased a new position in Martin Marietta Materials during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

MLM opened at $602.49 on Tuesday. The company has a fifty day simple moving average of $556.45 and a 200 day simple moving average of $526.29. The firm has a market cap of $36.32 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 5.29 and a beta of 0.89. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is 18.20%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MLM shares. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Raymond James Financial dropped their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Royal Bank Of Canada assumed coverage on shares of Martin Marietta Materials in a research report on Monday, June 16th. They issued a "sector perform" rating and a $515.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $605.93.

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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