Strs Ohio Has $29.08 Million Holdings in Martin Marietta Materials, Inc. $MLM

Strs Ohio trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 46,134 shares of the construction company’s stock after selling 4,045 shares during the quarter. Strs Ohio’s holdings in Martin Marietta Materials were worth $29,077,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Atika Capital Management LLC grew its position in Martin Marietta Materials by 30.4% in the 2nd quarter. Atika Capital Management LLC now owns 72,533 shares of the construction company’s stock worth $39,818,000 after purchasing an additional 16,900 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Martin Marietta Materials by 78.5% in the 3rd quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock worth $5,048,000 after buying an additional 3,522 shares during the last quarter. Fenimore Asset Management Inc grew its holdings in shares of Martin Marietta Materials by 0.9% in the third quarter. Fenimore Asset Management Inc now owns 89,657 shares of the construction company’s stock valued at $56,509,000 after acquiring an additional 807 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Martin Marietta Materials by 31.6% in the second quarter. TD Waterhouse Canada Inc. now owns 5,365 shares of the construction company’s stock valued at $2,988,000 after acquiring an additional 1,287 shares in the last quarter. Finally, Tableaux LLC purchased a new stake in shares of Martin Marietta Materials during the second quarter valued at approximately $5,060,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $649.36 on Friday. The firm’s 50 day moving average is $629.55 and its 200 day moving average is $615.08. The stock has a market capitalization of $39.16 billion, a P/E ratio of 34.23 and a beta of 1.15. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $668.83. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.06 billion. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were given a $0.83 dividend. The ex-dividend date was Monday, December 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is 17.50%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays boosted their price objective on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. DA Davidson reiterated a “neutral” rating and set a $690.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Thursday. Raymond James Financial raised their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Finally, Jefferies Financial Group lifted their price objective on shares of Martin Marietta Materials from $725.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $670.63.

Martin Marietta Materials Company 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.