Martin Marietta Materials, Inc. (MLM) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,988 shares of the construction company’s stock after selling 897 shares during the quarter. Arizona State Retirement System’s holdings in Martin Marietta Materials were worth $2,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. grew its holdings in shares of Martin Marietta Materials by 191.8% during the first quarter. Shine Investment Advisory Services Inc. now owns 143 shares of the construction company’s stock valued at $29,000 after buying an additional 94 shares during the last quarter. JOYN Advisors Inc. grew its holdings in shares of Martin Marietta Materials by 472.7% during the fourth quarter. JOYN Advisors Inc. now owns 189 shares of the construction company’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Martin Marietta Materials by 397.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 189 shares of the construction company’s stock valued at $32,000 after buying an additional 151 shares during the last quarter. Enlightenment Research LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at $34,000. Finally, Bogart Wealth LLC grew its holdings in shares of Martin Marietta Materials by 76.9% during the fourth quarter. Bogart Wealth LLC now owns 230 shares of the construction company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter.

NYSE:MLM opened at $215.87 on Friday. Martin Marietta Materials, Inc. has a one year low of $150.75 and a one year high of $232.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.81. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.29 by $0.39. Martin Marietta Materials had a net margin of 11.48% and a return on equity of 10.82%. The company had revenue of $938.96 million for the quarter, compared to analyst estimates of $881.82 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 9.21 earnings per share for the current year.

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $195.07, for a total value of $292,605.00. Following the sale, the director now directly owns 20,933 shares of the company’s stock, valued at $4,083,400.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Donald A. Mccunniff sold 660 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 15,349 shares in the company, valued at $2,930,124.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,011 shares of company stock worth $4,353,464. 0.73% of the stock is owned by corporate insiders.

A number of brokerages have recently weighed in on MLM. Zacks Investment Research raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Monday, May 6th. Citigroup boosted their price objective on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Bank of America lowered shares of Martin Marietta Materials from a “neutral” rating to an “underperform” rating in a report on Tuesday, April 16th. Goldman Sachs Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $207.00 to $232.00 in a report on Thursday, April 11th. Finally, Berenberg Bank began coverage on shares of Martin Marietta Materials in a report on Wednesday, April 3rd. They set a “hold” rating and a $194.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $219.93.

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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.

Further Reading: What is a Derivative?

Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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