Kentucky Retirement Systems Insurance Trust Fund Has $974,000 Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,810 shares of the construction company’s stock after selling 178 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Martin Marietta Materials were worth $974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empirical Finance LLC lifted its holdings in shares of Martin Marietta Materials by 2.0% in the third quarter. Empirical Finance LLC now owns 2,145 shares of the construction company’s stock valued at $1,155,000 after purchasing an additional 43 shares in the last quarter. CIBC Asset Management Inc boosted its position in Martin Marietta Materials by 4.5% during the 3rd quarter. CIBC Asset Management Inc now owns 17,484 shares of the construction company’s stock worth $9,411,000 after acquiring an additional 757 shares during the period. ING Groep NV acquired a new stake in Martin Marietta Materials during the 3rd quarter worth about $1,601,000. Metis Global Partners LLC grew its stake in Martin Marietta Materials by 1.1% during the 3rd quarter. Metis Global Partners LLC now owns 1,963 shares of the construction company’s stock valued at $1,057,000 after acquiring an additional 22 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Martin Marietta Materials by 607.4% in the third quarter. KBC Group NV now owns 75,377 shares of the construction company’s stock worth $40,572,000 after purchasing an additional 64,722 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $583.03 on Monday. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 month high of $633.23. The company has a market cap of $35.63 billion, a P/E ratio of 18.17, a P/E/G ratio of 3.90 and a beta of 0.90. The business’s 50 day moving average is $557.57 and its two-hundred day moving average is $556.67. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.94 EPS. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is presently 9.85%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Barclays upped their price objective 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. Citigroup cut their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Stephens dropped their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group reduced their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

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.