Public Employees Retirement Association of Colorado Reduces Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Public Employees Retirement Association of Colorado reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,545 shares of the construction company’s stock after selling 123 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Martin Marietta Materials were worth $4,018,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MLM. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $25,000. Pinnacle Bancorp Inc. acquired a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in Martin Marietta Materials during the 1st quarter valued at approximately $26,000. Benjamin Edwards Inc. grew its stake in Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in Martin Marietta Materials by 74.3% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock valued at $30,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM traded up $9.28 during midday trading on Monday, reaching $574.90. The stock had a trading volume of 294,349 shares, compared to its average volume of 435,084. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The firm’s 50 day moving average price is $555.38 and its 200-day moving average price is $565.07. The company has a market capitalization of $35.44 billion, a P/E ratio of 16.86, a P/E/G ratio of 3.01 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, analysts forecast that Martin Marietta Materials, Inc. will post 22.86 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup decreased their target price on Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Truist Financial boosted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus reduced their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Loop Capital reduced their price objective on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $628.91.

About Martin Marietta Materials

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.