California Public Employees Retirement System Has $41.56 Million Holdings in Martin Marietta Materials, Inc. $MLM

California Public Employees Retirement System grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,701 shares of the construction company’s stock after purchasing an additional 1,844 shares during the quarter. California Public Employees Retirement System owned about 0.13% of Martin Marietta Materials worth $41,557,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Townsquare Capital LLC grew its holdings in Martin Marietta Materials by 8.7% in the 1st quarter. Townsquare Capital LLC now owns 4,101 shares of the construction company’s stock valued at $1,961,000 after buying an additional 328 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Martin Marietta Materials in the first quarter valued at about $30,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Martin Marietta Materials in the first quarter valued at about $216,000. Nuveen LLC acquired a new position in shares of Martin Marietta Materials in the first quarter valued at about $73,020,000. Finally, Resona Asset Management Co. Ltd. increased its position in Martin Marietta Materials by 7.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 19,735 shares of the construction company’s stock worth $9,435,000 after acquiring an additional 1,434 shares during the period. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MLM. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. UBS Group boosted their price target on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Morgan Stanley increased their price target on Martin Marietta Materials from $610.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Finally, DA Davidson set a $690.00 target price on Martin Marietta Materials in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Martin Marietta Materials Stock Up 1.9%

NYSE MLM opened at $623.36 on Thursday. The business has a fifty day moving average price of $619.11 and a two-hundred day moving average price of $595.38. The stock has a market capitalization of $37.59 billion, a PE ratio of 32.86 and a beta of 1.16. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is 17.50%.

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.