California State Teachers Retirement System Sells 9,404 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

California State Teachers Retirement System cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,863 shares of the construction company's stock after selling 9,404 shares during the period. California State Teachers Retirement System owned about 0.12% of Martin Marietta Materials worth $37,634,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Martin Marietta Materials by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock valued at $3,705,466,000 after acquiring an additional 36,531 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after acquiring an additional 506,705 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Martin Marietta Materials by 11.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock worth $939,898,000 after purchasing an additional 191,043 shares during the period. Amundi raised its stake in shares of Martin Marietta Materials by 10.5% during the 4th quarter. Amundi now owns 1,562,146 shares of the construction company's stock worth $808,005,000 after purchasing an additional 148,065 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Martin Marietta Materials by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock worth $758,499,000 after purchasing an additional 32,082 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on MLM. Loop Capital lowered their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Truist Financial lowered their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Morgan Stanley lifted their target price on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Stifel Nicolaus lifted their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $610.69.

Martin Marietta Materials Price Performance

MLM stock traded down $6.47 during mid-day trading on Monday, reaching $541.08. 441,834 shares of the company traded hands, compared to its average volume of 489,229. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The company has a market capitalization of $32.62 billion, a P/E ratio of 16.74, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The company has a fifty day moving average price of $516.42 and a 200-day moving average price of $524.53.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm earned $1.93 EPS. The company's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials's payout ratio is 18.20%.

Insider Transactions at Martin Marietta Materials

In other news, SVP Michael J. Petro bought 550 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This represents a 6.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares of the company's stock, valued at approximately $1,673,425. This represents a 27.44% decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.

About Martin Marietta Materials

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.