New York State Common Retirement Fund Sells 2,081 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

New York State Common Retirement Fund lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,214 shares of the construction company’s stock after selling 2,081 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Martin Marietta Materials worth $19,738,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $33,000. Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $35,000. Retirement Wealth Solutions LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $41,000. R Squared Ltd bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $41,000. Finally, Larson Financial Group LLC bought a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $49,000. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

MLM has been the subject of several recent analyst reports. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James decreased their target price on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday. UBS Group initiated coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. Finally, Truist Financial decreased their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Stock Down 3.2 %

NYSE MLM opened at $489.94 on Friday. The firm has a market cap of $29.95 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 4.45 and a beta of 0.91. Martin Marietta Materials, Inc. has a one year low of $482.72 and a one year high of $633.23. The stock’s 50 day simple moving average is $530.12 and its 200 day simple moving average is $547.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 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 Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. Martin Marietta Materials’s payout ratio is 9.77%.

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.