Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky raised its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,315 shares of the construction company's stock after purchasing an additional 899 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Martin Marietta Materials were worth $12,582,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $235,000. Waverly Advisors LLC lifted its stake in Martin Marietta Materials by 78.9% during the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock worth $538,000 after purchasing an additional 459 shares in the last quarter. Mather Group LLC. grew its stake in shares of Martin Marietta Materials by 65.5% in the first quarter. Mather Group LLC. now owns 278 shares of the construction company's stock valued at $133,000 after buying an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Martin Marietta Materials by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock worth $1,457,000 after acquiring an additional 40 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Martin Marietta Materials by 30.5% during the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Trading Up 2.2%

Shares of MLM stock opened at $565.01 on Monday. The stock has a market cap of $34.06 billion, a P/E ratio of 32.55, a P/E/G ratio of 5.13 and a beta of 0.87. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The business has a fifty day simple moving average of $552.73 and a 200-day simple moving average of $522.21.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.93 earnings per share. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.20%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $548.00 to $634.00 in a report on Friday, May 16th. Raymond James Financial decreased their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Wall Street Zen cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Loop Capital decreased their price target on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Morgan Stanley lifted their price objective on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average target price of $603.86.

Martin Marietta Materials Profile

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.

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