DekaBank Deutsche Girozentrale Sells 21,394 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

DekaBank Deutsche Girozentrale lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 10.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,946 shares of the construction company’s stock after selling 21,394 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Martin Marietta Materials were worth $96,166,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MLM. BOKF NA increased its holdings in Martin Marietta Materials by 15.3% during the second quarter. BOKF NA now owns 2,082 shares of the construction company’s stock worth $1,128,000 after buying an additional 277 shares during the last quarter. Forsta AP Fonden grew its holdings in Martin Marietta Materials by 21.0% during the second quarter. Forsta AP Fonden now owns 19,600 shares of the construction company’s stock valued at $10,619,000 after purchasing an additional 3,400 shares during the period. Qsemble Capital Management LP purchased a new stake in Martin Marietta Materials in the second quarter worth $1,358,000. AGF Management Ltd. raised its stake in shares of Martin Marietta Materials by 16.3% in the second quarter. AGF Management Ltd. now owns 3,143 shares of the construction company’s stock valued at $1,703,000 after buying an additional 441 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 62.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 1,566 shares of the construction company’s stock valued at $848,000 after buying an additional 603 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Up 1.0 %

Shares of NYSE MLM opened at $520.68 on Friday. The company has a market cap of $32.09 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 3.52 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average is $541.32 and its 200 day moving average is $568.62. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the business posted $5.60 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.61%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MLM. Citigroup cut their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Stifel Nicolaus cut their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Loop Capital decreased their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley raised their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Finally, Jefferies Financial Group upped their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $629.82.

About Martin Marietta Materials

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.