Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,808 shares of the construction company’s stock after selling 1,596 shares during the quarter. California State Teachers Retirement System owned about 0.14% of Martin Marietta Materials worth $54,523,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MLM. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth $26,000. Riverview Trust Co acquired a new stake in shares of Martin Marietta Materials in the 1st quarter worth $26,000. Benjamin Edwards Inc. increased its stake in shares of Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after acquiring an additional 26 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of Martin Marietta Materials by 74.3% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after acquiring an additional 26 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 0.2 %

Shares of MLM traded up $1.30 during midday trading on Thursday, hitting $594.65. The company had a trading volume of 4,491 shares, compared to its average volume of 434,797. The company’s 50-day simple moving average is $555.73 and its 200-day simple moving average is $566.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The firm has a market capitalization of $36.65 billion, a P/E ratio of 17.58, a P/E/G ratio of 3.12 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $2.16 EPS. The business’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 22.86 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Citigroup lowered their price target on Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Loop Capital lowered their price target on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Stifel Nicolaus lowered their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group increased their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $628.91.

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.