Public Employees Retirement System of Ohio Lowers Holdings in Martin Marietta Materials, Inc. $MLM

Public Employees Retirement System of Ohio trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,618 shares of the construction company’s stock after selling 261 shares during the period. Public Employees Retirement System of Ohio’s holdings in Martin Marietta Materials were worth $10,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Martin Marietta Materials by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,654 shares of the construction company’s stock worth $1,887,000 after purchasing an additional 227 shares in the last quarter. 111 Capital purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $221,000. Wellington Management Group LLP boosted its position in shares of Martin Marietta Materials by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 448 shares of the construction company’s stock worth $231,000 after purchasing an additional 23 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Martin Marietta Materials by 3.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,184 shares of the construction company’s stock worth $566,000 after buying an additional 40 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Martin Marietta Materials by 58,570.5% in the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company’s stock worth $333,540,000 after buying an additional 696,403 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on MLM. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Stephens reissued an “overweight” rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research note on Monday, August 4th. Bank of America boosted their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Raymond James Financial boosted their target price on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Stifel Nicolaus boosted their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $622.63.

Insider Activity at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the transaction, the director owned 15,417 shares of the company’s stock, valued at $9,455,554.44. This represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Trading Up 1.0%

NYSE MLM opened at $614.18 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The company has a 50-day moving average of $605.08 and a 200-day moving average of $553.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. The company has a market cap of $37.04 billion, a P/E ratio of 34.06, a P/E/G ratio of 5.56 and a beta of 0.94.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company earned $4.76 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s dividend payout ratio is currently 18.41%.

Martin Marietta Materials Company 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.