Martin Marietta Materials, Inc. (MLM) Position Maintained by Employees Retirement System of Texas
Employees Retirement System of Texas continued to hold its stake 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 & Exchange Commission. The firm owned 3,000 shares of the construction company’s stock at the close of the 2nd quarter. Employees Retirement System of Texas’ holdings in Martin Marietta Materials were worth $668,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its position in Martin Marietta Materials by 130.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock worth $120,000 after acquiring an additional 305 shares in the last quarter. Dupont Capital Management Corp purchased a new position in Martin Marietta Materials in the second quarter worth about $128,000. Northwest Investment Counselors LLC purchased a new position in Martin Marietta Materials in the second quarter worth about $134,000. FNY Partners Fund LP purchased a new position in Martin Marietta Materials in the first quarter worth about $174,000. Finally, Numeric Investors LLC purchased a new position in Martin Marietta Materials in the second quarter worth about $200,000. 95.72% of the stock is currently owned by hedge funds and other institutional investors.
Martin Marietta Materials, Inc. (NYSE:MLM) opened at 203.35 on Thursday. Martin Marietta Materials, Inc. has a 12 month low of $172.38 and a 12 month high of $244.32. The firm’s 50 day moving average price is $204.75 and its 200 day moving average price is $217.56. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of 29.26 and a beta of 1.13.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.13). The business had revenue of $996.30 million during the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.90 EPS. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.87%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 25.29%.
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In other news, Director John J. Koraleski purchased 500 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the acquisition, the director now directly owns 1,439 shares of the company’s stock, valued at $285,454.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.45% of the stock is owned by company insiders.
MLM has been the subject of several recent research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $240.00 price target on shares of Martin Marietta Materials in a research report on Wednesday, October 11th. Citigroup Inc. reiterated a “buy” rating and issued a $260.00 price target (down previously from $270.00) on shares of Martin Marietta Materials in a research report on Monday, October 9th. Zacks Investment Research lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Finally, BidaskClub lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Martin Marietta Materials currently has an average rating of “Buy” and an average price target of $244.20.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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