Teachers Retirement System of The State of Kentucky lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,600 shares of the construction company’s stock after selling 500 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Martin Marietta Materials were worth $1,201,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in MLM. Robeco Institutional Asset Management B.V. purchased a new stake in Martin Marietta Materials during the third quarter worth $110,000. Flagship Harbor Advisors LLC purchased a new stake in Martin Marietta Materials during the second quarter worth $128,000. Piedmont Investment Advisors LLC purchased a new stake in Martin Marietta Materials during the second quarter worth $160,000. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in Martin Marietta Materials during the third quarter worth $181,000. Finally, NuWave Investment Management LLC lifted its holdings in Martin Marietta Materials by 18,400.0% during the third quarter. NuWave Investment Management LLC now owns 1,110 shares of the construction company’s stock worth $202,000 after buying an additional 1,104 shares during the period.
NYSE MLM opened at $196.81 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.04 and a current ratio of 1.88. Martin Marietta Materials, Inc. has a 1 year low of $150.75 and a 1 year high of $241.33. The firm has a market capitalization of $12.43 billion, a P/E ratio of 27.41, a PEG ratio of 1.98 and a beta of 1.09.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 3rd will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, November 30th. Martin Marietta Materials’s payout ratio is 26.74%.
In related news, SVP Donald A. Mccunniff sold 1,476 shares of the company’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $185.50, for a total value of $273,798.00. Following the transaction, the senior vice president now directly owns 14,467 shares of the company’s stock, valued at approximately $2,683,628.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.75% of the stock is owned by corporate insiders.
Several analysts have recently commented on MLM shares. Nomura started coverage on Martin Marietta Materials in a report on Monday, October 29th. They set a “buy” rating and a $220.00 price objective for the company. Barclays set a $215.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a report on Friday, September 28th. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Stephens set a $204.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, November 13th. Finally, DA Davidson set a $200.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $219.11.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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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