Kentucky Retirement Systems Has $2.52 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Kentucky Retirement Systems lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,645 shares of the construction company’s stock after selling 49 shares during the quarter. Kentucky Retirement Systems’ holdings in Martin Marietta Materials were worth $2,517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hsbc Holdings PLC boosted its holdings in Martin Marietta Materials by 20.0% in the 2nd quarter. Hsbc Holdings PLC now owns 128,806 shares of the construction company’s stock valued at $69,839,000 after purchasing an additional 21,488 shares during the period. Beck Bode LLC raised its position in shares of Martin Marietta Materials by 36.6% in the second quarter. Beck Bode LLC now owns 11,455 shares of the construction company’s stock valued at $6,206,000 after buying an additional 3,067 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Martin Marietta Materials by 6.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,964 shares of the construction company’s stock valued at $2,655,000 after buying an additional 284 shares during the period. Tredje AP fonden grew its position in Martin Marietta Materials by 8.7% during the second quarter. Tredje AP fonden now owns 29,471 shares of the construction company’s stock worth $15,967,000 after buying an additional 2,348 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Martin Marietta Materials by 239.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,152 shares of the construction company’s stock worth $3,333,000 after acquiring an additional 4,337 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Stifel Nicolaus reduced their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup decreased their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Truist Financial cut their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Loop Capital decreased their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $629.82.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $546.29 on Friday. The business has a 50 day moving average of $540.85 and a 200-day moving average of $567.21. The company has a market capitalization of $33.67 billion, a P/E ratio of 16.19, a P/E/G ratio of 3.52 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. Martin Marietta Materials’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.60 EPS. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is currently 9.36%.

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.