State Board of Administration of Florida Retirement System Sells 828 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

State Board of Administration of Florida Retirement System trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,188 shares of the construction company’s stock after selling 828 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.09% of Martin Marietta Materials worth $35,724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Ables Iannone Moore & Associates Inc. bought a new position in Martin Marietta Materials in the fourth quarter worth $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $26,000. Riverview Trust Co acquired a new stake in Martin Marietta Materials in the first quarter worth about $26,000. Exchange Traded Concepts LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth about $27,000. Finally, Benjamin Edwards Inc. increased its position in Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the period. 95.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on MLM shares. Truist Financial lifted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group boosted their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. 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. Stifel Nicolaus decreased their target price 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. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $617.33.

Martin Marietta Materials Stock Down 0.8 %

Shares of NYSE:MLM traded down $4.49 during trading on Friday, hitting $559.57. 90,521 shares of the company’s stock traded hands, compared to its average volume of 427,332. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The company has a market cap of $34.49 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 2.50 and a beta of 0.91. The company has a 50-day moving average price of $560.51 and a 200-day moving average price of $561.36.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 EPS. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 23.1 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.77%.

Martin Marietta Materials 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.