Kentucky Retirement Systems Has $2.17 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Kentucky Retirement Systems trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,200 shares of the construction company’s stock after selling 58 shares during the period. Kentucky Retirement Systems’ holdings in Martin Marietta Materials were worth $2,169,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. ING Groep NV grew its position in shares of Martin Marietta Materials by 162.5% in the fourth quarter. ING Groep NV now owns 7,806 shares of the construction company’s stock valued at $4,032,000 after purchasing an additional 4,832 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Martin Marietta Materials by 8.6% in the fourth quarter. Handelsbanken Fonder AB now owns 29,788 shares of the construction company’s stock valued at $15,386,000 after purchasing an additional 2,348 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Martin Marietta Materials by 11.8% in the fourth quarter. Private Advisor Group LLC now owns 1,630 shares of the construction company’s stock valued at $842,000 after purchasing an additional 172 shares during the last quarter. Summit Place Financial Advisors LLC grew its position in shares of Martin Marietta Materials by 0.4% in the fourth quarter. Summit Place Financial Advisors LLC now owns 5,862 shares of the construction company’s stock valued at $3,028,000 after purchasing an additional 23 shares during the last quarter. Finally, Buckingham Capital Management Inc. grew its position in shares of Martin Marietta Materials by 11.0% in the fourth quarter. Buckingham Capital Management Inc. now owns 714 shares of the construction company’s stock valued at $369,000 after purchasing an additional 71 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLM has been the topic of several research analyst reports. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday. Barclays lowered their price target on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Stephens lowered their price target on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Truist Financial reduced their target price on shares of 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. Finally, Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Stock Down 3.2 %

Shares of MLM opened at $489.94 on Friday. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 4.45 and a beta of 0.91. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12 month low of $482.72 and a 12 month high of $633.23. The company has a 50-day moving average price of $530.12 and a two-hundred day moving average price of $547.08.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly 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 30.54% and a return on equity of 12.11%. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is 9.77%.

Martin Marietta Materials Company Profile

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.