California State Teachers Retirement System trimmed its holdings in Martin Marietta Materials (NYSE:MLM) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,079 shares of the construction company’s stock after selling 1,573 shares during the period. California State Teachers Retirement System owned about 0.16% of Martin Marietta Materials worth $22,785,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. First Republic Investment Management Inc. lifted its position in shares of Martin Marietta Materials by 12.8% in the fourth quarter. First Republic Investment Management Inc. now owns 2,139 shares of the construction company’s stock valued at $473,000 after acquiring an additional 242 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of Martin Marietta Materials by 5.1% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 5,380 shares of the construction company’s stock worth $1,189,000 after buying an additional 260 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of Martin Marietta Materials by 26.5% in the fourth quarter. Cetera Advisors LLC now owns 1,342 shares of the construction company’s stock worth $295,000 after buying an additional 281 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Martin Marietta Materials by 27.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,358 shares of the construction company’s stock worth $300,000 after buying an additional 295 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Martin Marietta Materials by 149.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 523 shares of the construction company’s stock worth $116,000 after buying an additional 313 shares in the last quarter. Institutional investors and hedge funds own 99.32% of the company’s stock.
In other Martin Marietta Materials news, Director Sue W. Cole sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $210.06, for a total transaction of $630,180.00. Following the sale, the director now directly owns 24,145 shares in the company, valued at $5,071,898.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 8.45% of the company’s stock.
Shares of Martin Marietta Materials stock opened at $207.20 on Monday. Martin Marietta Materials has a 52-week low of $191.09 and a 52-week high of $244.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.93 and a current ratio of 3.79. The stock has a market capitalization of $13,012.78, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.98 and a beta of 1.17.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, February 13th. The construction company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.46. Martin Marietta Materials had a return on equity of 10.55% and a net margin of 17.99%. The business had revenue of $911.30 million for the quarter, compared to the consensus estimate of $924.30 million. During the same period in the prior year, the business posted $1.55 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts predict that Martin Marietta Materials will post 8.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 5th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 0.85%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 15.63%.
A number of research firms recently commented on MLM. Alembic Global Advisors reiterated a “buy” rating on shares of Martin Marietta Materials in a research report on Wednesday, February 14th. Zacks Investment Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Friday, January 19th. Stephens reiterated a “hold” rating and issued a $250.00 target price on shares of Martin Marietta Materials in a research report on Wednesday, January 3rd. Barclays began coverage on Martin Marietta Materials in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 target price on the stock. Finally, Citigroup boosted their target price on Martin Marietta Materials from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $243.25.
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About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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