New York State Teachers Retirement System Has $23.28 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

New York State Teachers Retirement System decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,067 shares of the construction company’s stock after selling 1,722 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Martin Marietta Materials worth $23,277,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MLM. Principal Financial Group Inc. lifted its holdings in Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after purchasing an additional 704,460 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the period. FMR LLC raised its holdings in Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after acquiring an additional 334,605 shares during the period. Public Sector Pension Investment Board raised its holdings in Martin Marietta Materials by 7,608.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock valued at $97,624,000 after acquiring an additional 179,020 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its holdings in Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after acquiring an additional 164,503 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

MLM has been the topic of several research analyst reports. Morgan Stanley lowered their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Stephens decreased their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays decreased their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Trading Down 0.8 %

Shares of MLM stock opened at $527.47 on Friday. The stock’s fifty day moving average price is $534.69 and its two-hundred day moving average price is $548.93. The company has a market cap of $32.24 billion, a PE ratio of 16.44, a P/E/G ratio of 4.62 and a beta of 0.91. Martin Marietta Materials, Inc. has a fifty-two week low of $482.72 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Equities analysts predict that Martin Marietta Materials, Inc. will post 17.57 EPS for the current fiscal year.

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.