Martin Marietta Materials, Inc. $MLM Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.6% in the first quarter, Holdings Channel reports. The fund owned 111,756 shares of the construction company’s stock after buying an additional 2,817 shares during the period. California Public Employees Retirement System’s holdings in Martin Marietta Materials were worth $65,789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its stake in shares of Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC raised its stake in Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after buying an additional 144 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after buying an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Martin Marietta Materials by 205.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after buying an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its position in shares of Martin Marietta Materials by 22.6% during the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock worth $427,000 after acquiring an additional 143 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a report on Thursday, April 2nd. Oppenheimer initiated coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They set a “market perform” rating for the company. Truist Financial upped their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Finally, Morgan Stanley cut their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $681.53.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $563.57 on Monday. The stock’s 50-day moving average is $578.36 and its two-hundred day moving average is $612.74. The firm has a market cap of $33.84 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 2.39 and a beta of 1.10. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year 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 posted its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $1.90 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. Analysts predict that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

Martin Marietta Materials Profile

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.