New York State Teachers Retirement System Has $19.73 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

New York State Teachers Retirement System trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,266 shares of the construction company's stock after selling 3,801 shares during the period. New York State Teachers Retirement System owned about 0.07% of Martin Marietta Materials worth $19,731,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MLM. Lee Danner & Bass Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter worth about $36,000. EverSource Wealth Advisors LLC raised its position in Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after buying an additional 34 shares during the last quarter. Bellwether Advisors LLC bought a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $46,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Martin Marietta Materials during the 4th quarter worth approximately $47,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded down $0.78 during mid-day trading on Friday, reaching $557.89. 310,586 shares of the company were exchanged, compared to its average volume of 484,146. The stock has a market capitalization of $33.63 billion, a P/E ratio of 32.14, a P/E/G ratio of 5.07 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. The company's 50-day simple moving average is $546.78 and its 200-day simple moving average is $520.06. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 12.01% and a net margin of 16.07%. The business's revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.93 earnings per share. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is currently 18.20%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MLM shares. Loop Capital lowered their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Royal Bank Of Canada began coverage on shares of Martin Marietta Materials in a research note on Monday, June 16th. They set a "sector perform" rating and a $515.00 price objective for the company. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Stifel Nicolaus upped their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Raymond James Financial decreased their price target on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $603.86.

Martin Marietta Materials Company 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.