Teachers Retirement System of The State of Kentucky Has $11.44 Million Position in Martin Marietta Materials, Inc. $MLM

Teachers Retirement System of The State of Kentucky cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,428 shares of the construction company’s stock after selling 2,320 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Martin Marietta Materials were worth $11,437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC raised its holdings in shares of Martin Marietta Materials by 6.6% in the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after purchasing an additional 49 shares during the last quarter. Empowered Funds LLC grew its position 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 purchasing an additional 144 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Martin Marietta Materials by 11.1% in the 2nd 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 during the last quarter. EverSource Wealth Advisors LLC increased its stake in Martin Marietta Materials by 205.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after buying an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its position in 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 buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $569.59 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average price is $580.92 and its two-hundred day moving average price is $614.74. The company has a market cap of $34.20 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. Martin Marietta Materials, Inc. has a twelve month low of $525.38 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm posted $1.90 earnings per share. The business’s revenue was up 17.2% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.38 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays decreased their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Weiss Ratings upgraded Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. Truist Financial upped their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Oppenheimer began coverage on Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, Raymond James Financial restated an “outperform” rating on shares of Martin Marietta Materials in a report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $682.41.

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.