Martin Marietta Materials, Inc. $MLM Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 18,618 shares of the construction company’s stock after selling 261 shares during the period. Public Employees Retirement System of Ohio’s holdings in Martin Marietta Materials were worth $10,221,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Wayfinding Financial LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at about $29,000. Chilton Capital Management LLC purchased a new stake in shares of Martin Marietta Materials in the first quarter valued at about $30,000. Zions Bancorporation National Association UT purchased a new stake in shares of Martin Marietta Materials in the first quarter valued at about $30,000. IMA Advisory Services Inc. purchased a new stake in shares of Martin Marietta Materials in the first quarter valued at about $40,000. Finally, Valley National Advisers Inc. grew its holdings in shares of Martin Marietta Materials by 193.9% in the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock valued at $45,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 1.0%

Shares of NYSE:MLM opened at $614.18 on Friday. The firm’s 50 day moving average price is $605.08 and its 200 day moving average price is $553.15. The stock has a market cap of $37.04 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 5.56 and a beta of 0.94. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $4.76 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date is Tuesday, September 2nd. Martin Marietta Materials’s payout ratio is 18.41%.

Analyst Ratings Changes

Several research analysts have weighed in on MLM shares. Wall Street Zen raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Raymond James Financial increased their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Stephens reissued an “overweight” rating and set a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday, August 4th. Royal Bank Of Canada reissued a “sector perform” rating and set a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Finally, Morgan Stanley raised their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $622.63.

Insider Activity

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

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.