California State Teachers Retirement System decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,353 shares of the construction company’s stock after selling 809 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Martin Marietta Materials worth $17,248,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc boosted its holdings in Martin Marietta Materials by 0.4% during the third quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock worth $1,210,520,000 after purchasing an additional 28,832 shares during the last quarter. BlackRock Inc. boosted its holdings in Martin Marietta Materials by 0.9% during the fourth quarter. BlackRock Inc. now owns 3,945,492 shares of the construction company’s stock worth $678,110,000 after purchasing an additional 34,666 shares during the last quarter. Morgan Stanley raised its position in Martin Marietta Materials by 5.0% during the third quarter. Morgan Stanley now owns 3,665,846 shares of the construction company’s stock worth $666,999,000 after acquiring an additional 173,731 shares in the last quarter. Baillie Gifford & Co. raised its position in Martin Marietta Materials by 48.5% during the third quarter. Baillie Gifford & Co. now owns 3,292,027 shares of the construction company’s stock worth $598,984,000 after acquiring an additional 1,075,314 shares in the last quarter. Finally, Select Equity Group L.P. raised its position in Martin Marietta Materials by 27.2% during the third quarter. Select Equity Group L.P. now owns 2,463,993 shares of the construction company’s stock worth $448,324,000 after acquiring an additional 526,139 shares in the last quarter.
Shares of MLM opened at $193.50 on Friday. The stock has a market capitalization of $12.08 billion, a PE ratio of 23.92, a P/E/G ratio of 1.70 and a beta of 1.12. Martin Marietta Materials, Inc. has a fifty-two week low of $150.75 and a fifty-two week high of $232.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.89 and a current ratio of 1.74.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, February 12th. The construction company reported $1.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.21). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Martin Marietta Materials had a net margin of 11.07% and a return on equity of 10.31%. Martin Marietta Materials’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 earnings per share. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 8.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 4th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, March 1st. Martin Marietta Materials’s payout ratio is presently 23.73%.
In related news, Director Sue W. Cole sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $195.07, for a total value of $292,605.00. Following the transaction, the director now directly owns 20,933 shares in the company, valued at $4,083,400.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald A. Mccunniff sold 660 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $190.90, for a total transaction of $125,994.00. Following the completion of the transaction, the senior vice president now owns 15,349 shares in the company, valued at $2,930,124.10. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.
MLM has been the topic of several analyst reports. Citigroup dropped their price target on shares of Martin Marietta Materials from $231.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, January 3rd. Deutsche Bank initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, January 3rd. They set a “buy” rating and a $198.00 price target on the stock. Stephens raised shares of Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research report on Friday, February 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a $232.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, January 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $217.45.
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Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.
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