Strs Ohio Reduces Holdings in Martin Marietta Materials, Inc. $MLM

Strs Ohio lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 20.7% during the first quarter, Holdings Channel reports. The firm owned 39,434 shares of the construction company’s stock after selling 10,302 shares during the quarter. Strs Ohio’s holdings in Martin Marietta Materials were worth $23,214,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optima Capital LLC purchased a new position in Martin Marietta Materials during the 4th quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $31,000. Reflection Asset Management acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $35,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $36,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MLM shares. Barclays cut their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Truist Financial increased their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Citigroup dropped their price objective on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Finally, B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price for the company in a report on Thursday, April 2nd. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $681.94.

Martin Marietta Materials Trading Up 0.1%

NYSE:MLM opened at $599.97 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $584.98 and its 200-day simple moving average is $616.91. The firm has a market cap of $36.03 billion, a P/E ratio of 14.30, a PEG ratio of 2.55 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping 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 firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company earned $1.90 earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.38 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed 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 was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is presently 7.91%.

Martin Marietta Materials Company 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.