Public Employees Retirement System of Ohio lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 37.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,889 shares of the construction company’s stock after buying an additional 11,506 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.07% of Martin Marietta Materials worth $9,324,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MLM. Neuberger Berman Group LLC raised its stake in shares of Martin Marietta Materials by 102.8% during the 1st quarter. Neuberger Berman Group LLC now owns 2,584 shares of the construction company’s stock worth $564,000 after buying an additional 1,310 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Martin Marietta Materials by 26.8% during the 1st quarter. OppenheimerFunds Inc. now owns 2,233 shares of the construction company’s stock worth $487,000 after buying an additional 472 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Martin Marietta Materials by 58.7% during the 1st quarter. Teachers Advisors LLC now owns 110,889 shares of the construction company’s stock worth $24,202,000 after buying an additional 41,017 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth $874,000. Finally, Paloma Partners Management Co raised its stake in shares of Martin Marietta Materials by 33.1% during the 1st quarter. Paloma Partners Management Co now owns 12,909 shares of the construction company’s stock worth $2,818,000 after buying an additional 3,210 shares during the last quarter. 95.72% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on MLM shares. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. BidaskClub downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $240.00 price target on shares of Martin Marietta Materials in a research note on Wednesday, October 11th. Bank of America Corporation cut their price target on Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $260.00 price target (down previously from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $241.67.

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In related news, Director John J. Koraleski bought 500 shares of Martin Marietta Materials stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of $198.37 per share, with a total value of $99,185.00. Following the completion of the acquisition, the director now directly owns 1,439 shares in the company, valued at approximately $285,454.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.45% of the company’s stock.

Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at 209.82 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $175.16 and a 52-week high of $244.32. The company’s 50-day moving average price is $204.62 and its 200-day moving average price is $217.50. The stock has a market cap of $13.18 billion, a PE ratio of 30.19 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.38 by ($0.13). Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The company had revenue of $996.30 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.84%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio is currently 25.29%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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