Kentucky Retirement Systems Insurance Trust Fund Has $1.25 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,040 shares of the construction company’s stock after selling 162 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Martin Marietta Materials were worth $1,252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after purchasing an additional 523,038 shares during the period. Beck Capital Management LLC increased its position in shares of Martin Marietta Materials by 1.4% in the 1st quarter. Beck Capital Management LLC now owns 3,738 shares of the construction company’s stock valued at $2,295,000 after buying an additional 51 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in Martin Marietta Materials during the 1st quarter worth $3,322,000. Alpine Global Management LLC bought a new position in Martin Marietta Materials during the first quarter worth about $1,016,000. Finally, Magnetar Financial LLC acquired a new position in Martin Marietta Materials in the first quarter valued at about $2,448,000. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

MLM has been the topic of several recent analyst reports. Truist Financial lifted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Stifel Nicolaus reduced their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Jefferies Financial Group raised their price objective on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Citigroup lowered their target price on Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $628.91.

Martin Marietta Materials Stock Up 1.9 %

Shares of NYSE MLM traded up $10.84 during trading hours on Monday, hitting $576.46. The company had a trading volume of 166,455 shares, compared to its average volume of 434,085. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $555.38 and its 200-day moving average is $565.07. The stock has a market capitalization of $35.53 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 3.01 and a beta of 0.91.

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

Martin Marietta Materials Dividend Announcement

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

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.