Teachers Retirement System of The State of Kentucky Grows Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Teachers Retirement System of The State of Kentucky grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 41.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 28,616 shares of the construction company’s stock after buying an additional 8,387 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Martin Marietta Materials were worth $15,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLM. 9258 Wealth Management LLC purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $203,000. Steward Partners Investment Advisory LLC grew its stake in Martin Marietta Materials by 4.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 975 shares of the construction company’s stock worth $486,000 after buying an additional 39 shares in the last quarter. California State Teachers Retirement System grew its stake in Martin Marietta Materials by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 90,404 shares of the construction company’s stock worth $45,103,000 after buying an additional 1,333 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Martin Marietta Materials by 11.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 47,866 shares of the construction company’s stock worth $23,881,000 after buying an additional 4,908 shares in the last quarter. Finally, NEOS Investment Management LLC grew its stake in Martin Marietta Materials by 17.6% in the 4th quarter. NEOS Investment Management LLC now owns 875 shares of the construction company’s stock worth $437,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.6 %

NYSE:MLM opened at $534.98 on Wednesday. The company has a fifty day moving average of $537.75 and a 200 day moving average of $563.97. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. 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 has a market capitalization of $32.98 billion, a P/E ratio of 15.85, a P/E/G ratio of 3.78 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 EPS 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 company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company posted $5.60 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.79 dividend. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.59%. Martin Marietta Materials’s dividend payout ratio is 9.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MLM shares. Loop Capital cut their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Jefferies Financial Group boosted their price objective 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. Citigroup lowered their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Finally, Truist Financial lowered their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average 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.