What smart money is saying about Heidelberg Materials
3 funds in our archive have pitched Heidelberg Materials, most recently Clearbridge International Growth ADR Strategy in December 2025.
Heidelberg Materials AG, together with its subsidiaries, produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide. It provides cement products; natural stone aggregates, including sand and gravel; crushed aggregates comprising stone chippings and crushed stones; and ready-mixed concrete for use in the construction of tunnels or bridges, office buildings, or schools, as well as to produce precast concrete parts, such as stairs, ceiling elements, or structural components. The company offers asphalt; and trades in cement, clinker, secondary cementitious materials, solid, alternative fuels, other building materials, and additives. The company was formerly known as HeidelbergCement AG and changed its name to Heidelberg Materials AG in May 2023. Heidelberg Materials AG was founded in 1873 and is headquartered in Heidel
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Position history
Between Q1 2025 and Q3 2026, 6 fund letters reported a position in Heidelberg Materials, with 1 buy (opened or added) and 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 0 | 0 | 0 |
| Q2 2026 | 3 | 0 | 1 | 0 |
| Q4 2025 | 1 | 1 | 0 | 2 |
| Q1 2025 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 6 positions · 2 moves
- September 2026
“Our three largest detractors this quarter were Danone, Heidelberg and Samsung Electronics.”
Heidelberg Materials - September 2026
“Our three largest detractors this quarter were Danone, Heidelberg and Samsung Electronics.”
Heidelberg Materials - June 2026
“We also closed positions in SAP in IT, Agnico Eagle Mines and Heidelberg Materials in materials and Wuxi AppTec in health care.”
Heidelberg Materials - June 2026
“Our three worst contributors during the quarter were Shell, Marsh and Heidelberg Materials.”
Heidelberg Materials - June 2026
“Heidelberg Materials was down 6% this quarter.”
Heidelberg Materials - December 2025
“European discount airline Ryanair was another repurchase after many years. The company is benefiting from several catalysts that could drive positive earnings surprises, including an improving industry structure that should allow for: expansion and increasing market share; operational efficiency improvements; capacity CLEARBRIDGE INTERNATIONAL GROWTH ADR STRATEGY 5 shortages and favorable fuel prices; as well as management confidence in passenger growth and profitability. We also added Heidelberg Materials, a German supplier of building materials for residential, commercial and infrastructure construction.”
Heidelberg Materials
Fund coverage · 3 theses
- Clearbridge International Growth ADR StrategyDecember 2025
Heidelberg Materials is a German building materials supplier with potential margin upside from better utilization and decarbonization advantages amid a stimulus-driven recovery.
Read the full thesis - Artisan Global Value StrategyDecember 2025
Heidelberg Materials is a global cement producer with pricing power, European recovery potential, and margin upside from ETS-driven price increases given its lower CO2 intensity.
Read the full thesis - Tamim Fund Global High ConvictionMarch 2025
Heidelberg Materials AG is a leading global building materials company poised to benefit from increased infrastructure spending and innovative low-carbon initiatives, offering compelling value at a P/E ratio of 13.2 while delivering sustainable financial performance and strong shareholder returns.
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