Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the construction company’s stock after selling 58 shares during the quarter. Kentucky Retirement Systems’ holdings in Martin Marietta Materials were worth $2,169,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MLM. First Personal Financial Services bought a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $33,000. Kestra Investment Management LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $35,000. Retirement Wealth Solutions LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $41,000. R Squared Ltd bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $41,000. Finally, Larson Financial Group LLC bought a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $49,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $489.94 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1 year low of $482.72 and a 1 year high of $633.23. The business has a fifty day simple moving average of $530.12 and a 200 day simple moving average of $547.08. The firm has a market cap of $29.95 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s payout ratio is 9.77%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday. Loop Capital decreased their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Barclays decreased their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Stephens decreased their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $639.43.

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.