State Board of Administration of Florida Retirement System Sells 130 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

State Board of Administration of Florida Retirement System trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,102 shares of the construction company’s stock after selling 130 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of Martin Marietta Materials worth $28,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $96,000. Allspring Global Investments Holdings LLC bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $2,597,000. CWM LLC bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $207,000. Xponance Inc. raised its position in shares of Martin Marietta Materials by 25.7% during the 4th quarter. Xponance Inc. now owns 3,926 shares of the construction company’s stock valued at $1,729,000 after acquiring an additional 803 shares during the last quarter. Finally, Ieq Capital LLC raised its position in shares of Martin Marietta Materials by 11.9% during the 4th quarter. Ieq Capital LLC now owns 677 shares of the construction company’s stock valued at $298,000 after acquiring an additional 72 shares during the last quarter. 93.49% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 1.1 %

Shares of MLM opened at $355.93 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $284.99 and a 12 month high of $446.46. The firm’s 50 day moving average is $323.27 and its 200-day moving average is $352.64. The stock has a market capitalization of $22.20 billion, a PE ratio of 27.87, a P/E/G ratio of 1.76 and a beta of 0.88. The company has a current ratio of 3.63, a quick ratio of 2.53 and a debt-to-equity ratio of 0.74.

Martin Marietta Materials (NYSE:MLMGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.09 by ($0.13). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.59 billion. Martin Marietta Materials had a return on equity of 11.28% and a net margin of 13.49%. The business’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.81 EPS. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 13.28 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 1st were given a dividend of $0.61 per share. The ex-dividend date was Tuesday, May 31st. This represents a $2.44 annualized dividend and a dividend yield of 0.69%. Martin Marietta Materials’s dividend payout ratio is 19.11%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MLM shares. Truist Financial lowered their price objective on shares of Martin Marietta Materials to $392.00 in a research report on Tuesday, July 5th. DA Davidson reduced their target price on shares of Martin Marietta Materials from $450.00 to $375.00 and set a “buy” rating for the company in a research note on Friday, July 1st. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and reduced their price objective for the stock from $406.00 to $384.00 in a research note on Thursday, July 14th. Finally, Morgan Stanley raised their target price on shares of Martin Marietta Materials from $394.00 to $420.00 and gave the company an “overweight” rating in a research note on Monday, August 1st. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $418.10.

About Martin Marietta Materials

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

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