Retirement Systems of Alabama Decreases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Retirement Systems of Alabama reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,319 shares of the construction company’s stock after selling 278 shares during the quarter. Retirement Systems of Alabama’s holdings in Martin Marietta Materials were worth $7,169,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. lifted its stake in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC raised its stake in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the period. First Personal Financial Services purchased a new position in shares of Martin Marietta Materials during the 3rd quarter valued at $33,000. Rothschild Investment LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter worth $43,000. Finally, Larson Financial Group LLC purchased a new stake in Martin Marietta Materials in the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MLM. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a report on Wednesday, December 11th. Barclays raised their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $653.08.

Martin Marietta Materials Trading Down 0.5 %

Shares of Martin Marietta Materials stock opened at $544.78 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a 1 year low of $479.67 and a 1 year high of $633.23. The firm has a market cap of $33.30 billion, a PE ratio of 16.98, a PEG ratio of 3.80 and a beta of 0.89. The company has a 50 day simple moving average of $579.74 and a two-hundred day simple moving average of $555.47.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the business posted $6.94 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Analysts expect that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s payout ratio is currently 9.85%.

Martin Marietta Materials 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.