New York State Common Retirement Fund Has $21.69 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

New York State Common Retirement Fund decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 17.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,295 shares of the construction company's stock after selling 8,400 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Martin Marietta Materials worth $21,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Norden Group LLC purchased a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $209,000. Private Advisor Group LLC raised its holdings in Martin Marietta Materials by 2.1% in the first quarter. Private Advisor Group LLC now owns 1,227 shares of the construction company's stock valued at $754,000 after acquiring an additional 25 shares in the last quarter. Nordea Investment Management AB grew its holdings in Martin Marietta Materials by 2.7% during the 1st quarter. Nordea Investment Management AB now owns 4,271 shares of the construction company's stock worth $2,619,000 after acquiring an additional 113 shares in the last quarter. Whittier Trust Co. increased its position in shares of Martin Marietta Materials by 54.7% in the 1st quarter. Whittier Trust Co. now owns 232 shares of the construction company's stock worth $142,000 after purchasing an additional 82 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth about $653,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MLM. BNP Paribas raised Martin Marietta Materials to a "strong-buy" rating in a report on Thursday, September 19th. Stephens reduced their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. Barclays boosted their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. Truist Financial decreased their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating for the company in a report on Friday, August 9th. Finally, Citigroup dropped their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average target price of $626.92.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM traded up $0.54 on Tuesday, reaching $582.52. 569,609 shares of the company traded hands, compared to its average volume of 444,832. The stock has a market capitalization of $35.60 billion, a PE ratio of 18.28, a P/E/G ratio of 3.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The company's 50 day moving average is $542.14 and its 200-day moving average is $555.68. Martin Marietta Materials, Inc. has a fifty-two week low of $438.89 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the business earned $6.94 EPS. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 18.09 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.54%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials's payout ratio is presently 9.85%.

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.