California State Teachers Retirement System Purchases 18,410 Shares of Martin Marietta Materials, Inc. $MLM

California State Teachers Retirement System boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 26.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,562 shares of the construction company's stock after acquiring an additional 18,410 shares during the period. California State Teachers Retirement System owned 0.15% of Martin Marietta Materials worth $51,073,705 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC increased its position in shares of Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company's stock worth $27,000 after acquiring an additional 37 shares during the period. Meeder Asset Management Inc. grew its stake in Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock worth $28,000 after buying an additional 19 shares during the last quarter. Reflection Asset Management purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $35,000. Osterweis Capital Management Inc. acquired a new stake in shares of Martin Marietta Materials during the 2nd quarter worth $39,000. Finally, EFG International AG acquired a new position in shares of Martin Marietta Materials in the 2nd quarter valued at approximately $39,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 0.8%

Shares of MLM traded up $4.05 during midday trading on Tuesday, hitting $504.98. The company had a trading volume of 331,604 shares, compared to its average volume of 563,172. The stock has a market cap of $30.33 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 2.20 and a beta of 1.10. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 52 week low of $491.61 and a 52 week high of $710.97. The company's 50 day moving average price is $542.77 and its 200 day moving average price is $577.47.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, beating analysts' consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm earned $5.43 EPS. The business's revenue was up 21.0% on a year-over-year basis. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. Martin Marietta Materials's dividend payout ratio (DPR) is presently 8.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MLM shares. Sanford C. Bernstein cut shares of Martin Marietta Materials to an "underweight" rating in a report on Wednesday, September 2nd. Wall Street Zen cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Tuesday, July 28th. DA Davidson assumed coverage on Martin Marietta Materials in a research report on Monday, August 24th. They set a "neutral" rating and a $625.00 price target on the stock. Royal Bank Of Canada raised their price objective on Martin Marietta Materials from $610.00 to $620.00 and gave the company a "sector perform" rating in a research report on Friday, August 28th. Finally, JPMorgan Chase & Co. raised Martin Marietta Materials from a "neutral" rating to an "overweight" rating and set a $680.00 price target for the company in a research note on Wednesday, September 2nd. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $667.53.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a U.S.-based supplier of construction aggregates and other building materials. The company produces crushed stone, sand and gravel used in infrastructure, commercial, residential and industrial construction projects.

Its products and services also include cement, ready-mixed concrete, asphalt and paving materials. Martin Marietta serves customers involved in roads, bridges, airports, buildings and other essential infrastructure, with operations concentrated across several regions of the United States.

The company was established in 1993 as an independent, publicly traded materials business formed from the construction materials operations of Martin Marietta Corporation.

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