Public Employees Retirement System of Ohio Invests $9.82 Million in Martin Marietta Materials, Inc. $MLM

Public Employees Retirement System of Ohio bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,027 shares of the construction company’s stock, valued at approximately $9,819,000.

Other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its holdings in Martin Marietta Materials by 67.9% in the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after buying an additional 19 shares during the period. CoreCap Advisors LLC increased its stake in shares of Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth $31,000. Reflection Asset Management purchased a new position in shares of Martin Marietta Materials during the fourth quarter worth $35,000. Finally, Quarry LP acquired a new position in Martin Marietta Materials during the third quarter valued at $38,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

MLM opened at $518.75 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $560.97 and its 200 day moving average price is $589.12. The firm has a market capitalization of $31.16 billion, a PE ratio of 12.75, a PEG ratio of 2.29 and a beta of 1.11. Martin Marietta Materials, Inc. has a twelve month low of $517.65 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the firm earned $5.43 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $0.84 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Martin Marietta Materials’s payout ratio is currently 8.16%.

Analyst Ratings Changes

Several equities research analysts have weighed in on MLM shares. DA Davidson started coverage on Martin Marietta Materials in a research report on Monday, August 24th. They set a “neutral” rating and a $625.00 price target on the stock. Morgan Stanley lowered their target price on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Finally, Citigroup lowered their price objective on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $665.88.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.