Strs Ohio Cuts Stock Holdings in Martin Marietta Materials, Inc. $MLM

Strs Ohio reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 20.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,434 shares of the construction company’s stock after selling 10,302 shares during the period. Strs Ohio owned approximately 0.07% of Martin Marietta Materials worth $23,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eagle Bay Advisors LLC increased its holdings in Martin Marietta Materials by 11.3% during the 1st quarter. Eagle Bay Advisors LLC now owns 373 shares of the construction company’s stock worth $220,000 after purchasing an additional 38 shares during the period. Essex Financial Services Inc. boosted its stake in shares of Martin Marietta Materials by 29.7% in the 1st quarter. Essex Financial Services Inc. now owns 494 shares of the construction company’s stock valued at $291,000 after buying an additional 113 shares during the period. Fulton Bank N.A. boosted its stake in shares of Martin Marietta Materials by 5.1% in the 1st quarter. Fulton Bank N.A. now owns 492 shares of the construction company’s stock valued at $290,000 after buying an additional 24 shares during the period. IFM Investors Pty Ltd grew its position in shares of Martin Marietta Materials by 12.6% during the first quarter. IFM Investors Pty Ltd now owns 13,020 shares of the construction company’s stock worth $7,665,000 after buying an additional 1,454 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Martin Marietta Materials during the first quarter worth about $512,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $599.97 on Friday. The stock’s 50-day simple moving average is $584.98 and its 200-day simple moving average is $616.91. The firm has a market capitalization of $36.03 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 2.55 and a beta of 1.10. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 earnings per share. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.38 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s payout ratio is currently 7.91%.

Analyst Ratings Changes

MLM has been the topic of several analyst reports. Oppenheimer assumed coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Wells Fargo & Company boosted their price target on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Citigroup dropped their price objective on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $681.94.

About Martin Marietta Materials

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.