Teachers Retirement System of The State of Kentucky Has $11.44 Million Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Teachers Retirement System of Kentucky trimmed its Martin Marietta Materials stake by 10.7% in the first quarter, leaving it with 19,428 shares valued at about $11.44 million.
• Martin Marietta Materials reported better-than-expected Q1 earnings, posting $1.93 per share versus $1.78 expected, on revenue of $1.36 billion, up 17.2% year over year.
• Analysts remain generally positive despite some target cuts: the stock has a Moderate Buy consensus with an average price target of $682.41, while shares recently traded down 1.4% at $569.59.

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 10.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 19,428 shares of the construction company's stock after selling 2,320 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Martin Marietta Materials were worth $11,437,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Optima Capital LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter worth $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in Martin Marietta Materials in the third quarter valued at about $27,000. Garton & Associates Financial Advisors LLC acquired a new position in Martin Marietta Materials in the fourth quarter valued at about $31,000. Union Bancaire Privee UBP SA bought a new position in Martin Marietta Materials during the fourth quarter worth about $36,000. Finally, Reflection Asset Management bought a new position in Martin Marietta Materials during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays decreased their target price on Martin Marietta Materials from $675.00 to $640.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Royal Bank Of Canada reduced their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a "sector perform" rating on the stock in a research note on Monday, May 4th. UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a report on Sunday, May 10th. Wall Street Zen lowered shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Sunday. Finally, Wells Fargo & Company lifted their price target on shares of Martin Marietta Materials from $614.00 to $616.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $682.41.

Martin Marietta Materials Trading Down 1.4%

NYSE MLM opened at $569.59 on Tuesday. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The firm has a market cap of $34.20 billion, a P/E ratio of 13.57, a P/E/G ratio of 2.46 and a beta of 1.10. The stock's 50-day moving average is $580.92 and its 200-day moving average is $614.74.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the firm earned $1.90 EPS. Martin Marietta Materials's quarterly revenue was up 17.2% compared to the same quarter last year. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials's dividend payout ratio is 7.91%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc NYSE: MLM is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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