State of Michigan Retirement System Lowers Position in Martin Marietta Materials, Inc. $MLM

State of Michigan Retirement System cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,437 shares of the construction company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Martin Marietta Materials were worth $9,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its stake in shares of Martin Marietta Materials by 1.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company’s stock worth $661,000 after purchasing an additional 21 shares during the last quarter. CVA Family Office LLC raised its stake in shares of Martin Marietta Materials by 21.4% in the second quarter. CVA Family Office LLC now owns 125 shares of the construction company’s stock worth $69,000 after purchasing an additional 22 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Martin Marietta Materials by 25.8% in the second quarter. Valley National Advisers Inc. now owns 122 shares of the construction company’s stock worth $66,000 after purchasing an additional 25 shares during the last quarter. Trust Investment Advisors raised its stake in shares of Martin Marietta Materials by 1.4% in the first quarter. Trust Investment Advisors now owns 1,843 shares of the construction company’s stock worth $881,000 after purchasing an additional 26 shares during the last quarter. Finally, Willner & Heller LLC raised its stake in shares of Martin Marietta Materials by 3.2% in the first quarter. Willner & Heller LLC now owns 840 shares of the construction company’s stock worth $402,000 after purchasing an additional 26 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on MLM. Wells Fargo & Company raised Martin Marietta Materials to a “hold” rating in a research note on Wednesday, October 8th. Stephens reaffirmed an “overweight” rating and issued a $700.00 target price on shares of Martin Marietta Materials in a report on Monday, August 4th. Morgan Stanley upped their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Barclays upped their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $628.56.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the sale, the director owned 15,417 shares in the company, valued at $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.69% of the company’s stock.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $619.39 on Tuesday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $621.87 and its 200 day simple moving average is $580.77. The company has a market cap of $37.35 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 5.57 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the company posted $4.76 EPS. Martin Marietta Materials’s revenue for the quarter was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a $0.83 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 18.41%.

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.