California State Teachers Retirement System reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,353 shares of the construction company’s stock after selling 809 shares during the period. California State Teachers Retirement System’s holdings in Martin Marietta Materials were worth $17,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MLM. Baillie Gifford & Co. boosted its stake in shares of Martin Marietta Materials by 48.5% in the 3rd quarter. Baillie Gifford & Co. now owns 3,292,027 shares of the construction company’s stock valued at $598,984,000 after purchasing an additional 1,075,314 shares in the last quarter. Select Equity Group L.P. boosted its stake in shares of Martin Marietta Materials by 27.2% in the 3rd quarter. Select Equity Group L.P. now owns 2,463,993 shares of the construction company’s stock valued at $448,324,000 after purchasing an additional 526,139 shares in the last quarter. Pactiv General Employee Benefit Trust acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $53,532,000. Morgan Stanley boosted its stake in shares of Martin Marietta Materials by 5.0% in the 3rd quarter. Morgan Stanley now owns 3,665,846 shares of the construction company’s stock valued at $666,999,000 after purchasing an additional 173,731 shares in the last quarter. Finally, Carillon Tower Advisers Inc. boosted its stake in shares of Martin Marietta Materials by 50.4% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 426,051 shares of the construction company’s stock valued at $77,520,000 after purchasing an additional 142,799 shares in the last quarter.

Shares of NYSE MLM opened at $193.50 on Friday. The company has a market capitalization of $12.08 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 1.70 and a beta of 1.12. Martin Marietta Materials, Inc. has a 1 year low of $150.75 and a 1 year high of $232.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.74 and a quick ratio of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, February 12th. The construction company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.21). Martin Marietta Materials had a return on equity of 10.31% and a net margin of 11.07%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the business posted $1.88 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts forecast that Martin Marietta Materials, Inc. will post 8.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, March 1st. This represents a $1.92 annualized dividend and a yield of 0.99%. Martin Marietta Materials’s payout ratio is 23.73%.

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $195.07, for a total transaction of $292,605.00. Following the completion of the transaction, the director now owns 20,933 shares in the company, valued at approximately $4,083,400.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Donald A. Mccunniff sold 660 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total transaction of $125,994.00. Following the transaction, the senior vice president now owns 15,349 shares of the company’s stock, valued at approximately $2,930,124.10. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

A number of research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Martin Marietta Materials from $231.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, January 3rd. Deutsche Bank assumed coverage on shares of Martin Marietta Materials in a report on Thursday, January 3rd. They issued a “buy” rating and a $198.00 price objective for the company. Stephens upgraded shares of Martin Marietta Materials from an “equal” rating to an “overweight” rating in a report on Friday, February 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $232.00 price objective on shares of Martin Marietta Materials in a report on Tuesday, January 29th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Martin Marietta Materials in a report on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $217.45.

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Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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