Teachers Retirement System of The State of Kentucky Sells 3,361 Shares of Martin Marietta Materials, Inc. $MLM

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.7% in the third quarter, Holdings Channel reports. The firm owned 23,033 shares of the construction company’s stock after selling 3,361 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Martin Marietta Materials were worth $14,517,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp lifted its position in shares of Martin Marietta Materials by 321.8% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock worth $2,406,000 after buying an additional 2,912 shares during the period. Atika Capital Management LLC grew its position in Martin Marietta Materials by 30.4% in the second quarter. Atika Capital Management LLC now owns 72,533 shares of the construction company’s stock valued at $39,818,000 after acquiring an additional 16,900 shares during the period. National Pension Service grew its position in Martin Marietta Materials by 1.0% in the third quarter. National Pension Service now owns 84,820 shares of the construction company’s stock valued at $53,460,000 after acquiring an additional 843 shares during the period. HB Wealth Management LLC raised its stake in Martin Marietta Materials by 78.5% during the third quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock worth $5,048,000 after acquiring an additional 3,522 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in Martin Marietta Materials during the third quarter worth $1,605,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 1.3%

Shares of NYSE MLM opened at $656.97 on Wednesday. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $710.97. The company has a 50-day moving average of $657.99 and a two-hundred day moving average of $632.47. The company has a market cap of $39.62 billion, a PE ratio of 34.95, a P/E/G ratio of 2.56 and a beta of 1.13. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business earned $4.79 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be given a dividend of $0.83 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 17.66%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MLM. UBS Group upped their target price on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Morgan Stanley reiterated an “overweight” rating and issued a $706.00 target price on shares of Martin Marietta Materials in a research note on Tuesday, February 17th. Loop Capital downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price on the stock. in a report on Wednesday, January 28th. Finally, Stephens decreased their price target on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of “Hold” and a consensus target price of $697.13.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.