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

New York State Common Retirement Fund reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.2% during the 4th quarter, Holdings Channel reports. The firm owned 38,214 shares of the construction company’s stock after selling 2,081 shares during the period. New York State Common Retirement Fund’s holdings in Martin Marietta Materials were worth $19,738,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Personal Financial Services bought a new position in shares of Martin Marietta Materials in the 3rd quarter worth $33,000. Kestra Investment Management LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter worth $35,000. R Squared Ltd bought a new position in shares of Martin Marietta Materials in the 4th quarter worth $41,000. Retirement Wealth Solutions LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter worth $41,000. Finally, Larson Financial Group LLC acquired a new stake in Martin Marietta Materials during the 3rd quarter worth $49,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $489.94 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. 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 market cap of $29.95 billion, a P/E ratio of 15.15, a P/E/G ratio of 4.45 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52-week low of $482.72 and a 52-week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (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 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. Investors of record on Monday, March 3rd will be issued 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 payout ratio is currently 9.77%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a research note on Wednesday, January 8th. Truist Financial dropped their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley dropped their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Raymond James dropped their price objective on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials 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.