Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 309 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,996 shares of the construction company’s stock after selling 309 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Martin Marietta Materials were worth $6,712,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MLM. Principal Financial Group Inc. lifted its position 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 acquiring an additional 704,460 shares during the period. Prospera Financial Services Inc lifted its position in Martin Marietta Materials by 55.1% during the 3rd quarter. Prospera Financial Services Inc now owns 833 shares of the construction company’s stock valued at $449,000 after acquiring an additional 296 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Martin Marietta Materials during the 3rd quarter valued at about $1,359,000. Intech Investment Management LLC lifted its position in Martin Marietta Materials by 9.6% during the 3rd quarter. Intech Investment Management LLC now owns 4,120 shares of the construction company’s stock valued at $2,218,000 after acquiring an additional 361 shares during the period. Finally, Banco Santander S.A. purchased a new position in Martin Marietta Materials during the 3rd quarter valued at about $257,000. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays decreased their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Stephens decreased their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Truist Financial decreased 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 report on Thursday, February 13th. BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Loop Capital decreased their target price on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $628.64.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Petro acquired 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the transaction, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $477.49 on Friday. The firm has a fifty day moving average price of $511.26 and a 200-day moving average price of $539.32. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The stock has a market cap of $29.11 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (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 anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.66%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

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.