State of Alaska Department of Revenue Acquires 30 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

State of Alaska Department of Revenue increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,704 shares of the construction company’s stock after buying an additional 30 shares during the quarter. State of Alaska Department of Revenue’s holdings in Martin Marietta Materials were worth $4,115,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MLM. Norges Bank bought a new stake in Martin Marietta Materials in the 4th quarter worth about $308,705,000. Balyasny Asset Management L.P. boosted its position in Martin Marietta Materials by 4,244.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock worth $138,289,000 after purchasing an additional 270,802 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Martin Marietta Materials by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock worth $838,421,000 after purchasing an additional 181,136 shares during the last quarter. Corient Private Wealth LLC boosted its position in Martin Marietta Materials by 306.8% in the fourth quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock worth $80,668,000 after purchasing an additional 121,941 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Martin Marietta Materials by 96.6% in the fourth quarter. Jennison Associates LLC now owns 157,904 shares of the construction company’s stock worth $78,780,000 after purchasing an additional 77,596 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 0.3 %

Shares of MLM opened at $533.32 on Friday. The business’s 50 day moving average is $569.49 and its 200 day moving average is $557.45. The company has a market capitalization of $32.87 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 2.36 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.16 EPS. Research analysts expect that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Analyst Ratings Changes

Several brokerages have issued reports on MLM. Stifel Nicolaus dropped their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday. Loop Capital dropped their target price on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Wolfe Research cut Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Finally, StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $610.25.

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.