Retirement Systems of Alabama Sells 353 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Retirement Systems of Alabama reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,621 shares of the construction company’s stock after selling 353 shares during the quarter. Retirement Systems of Alabama’s holdings in Martin Marietta Materials were worth $6,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MLM. Schear Investment Advisers LLC raised its stake in shares of Martin Marietta Materials by 1.2% during the fourth quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock worth $822,000 after buying an additional 20 shares during the last quarter. Independence Bank of Kentucky raised its position in shares of Martin Marietta Materials by 16.9% during the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after acquiring an additional 22 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Martin Marietta Materials by 5.0% in the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after purchasing an additional 22 shares during the period. Spreng Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 3.1% in the 4th quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock valued at $387,000 after purchasing an additional 23 shares during the period. Finally, Park Place Capital Corp boosted its position in shares of Martin Marietta Materials by 11.3% in the 4th quarter. Park Place Capital Corp now owns 247 shares of the construction company’s stock worth $123,000 after purchasing an additional 25 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MLM shares. Stephens increased their target price on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Truist Financial increased their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Citigroup boosted their price objective on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $588.69.

Insider Transactions at Martin Marietta Materials

In other news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares in the company, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock valued at $16,033,760 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Trading Up 0.2 %

MLM opened at $591.03 on Friday. The firm’s fifty day simple moving average is $598.46 and its 200 day simple moving average is $522.18. The stock has a market capitalization of $36.43 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.80 and a beta of 0.95. The company has a current ratio of 3.16, a quick ratio of 2.50 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 12 month low of $384.61 and a 12 month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued 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 company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 21.7 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

Martin Marietta Materials Company 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.