Todays Report: Today, Teacher Retirement System of Texas Cuts Stake in Martin Marietta Materials Inc. (MLM)

Today, Teacher Retirement System of Texas Cuts Stake in Martin Marietta Materials Inc. (MLM)

Teacher Retirement System of Texas cut its position in Martin Marietta Materials Inc. (NYSE:MLM) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,120 shares of the company’s stock after selling 2,054 shares during the period. Teacher Retirement System of Texas owned approximately 0.22% of Martin Marietta Materials worth $25,276,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in Martin Marietta Materials by 1.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 530 shares of the company’s stock worth $101,000 after buying an additional 5 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in Martin Marietta Materials by 1.4% in the third quarter. Carroll Financial Associates Inc. now owns 750 shares of the company’s stock valued at $134,000 after buying an additional 10 shares in the last quarter. Conning Inc. raised its stake in Martin Marietta Materials by 0.6% in the third quarter. Conning Inc. now owns 1,770 shares of the company’s stock valued at $317,000 after buying an additional 10 shares in the last quarter. Creative Planning raised its stake in Martin Marietta Materials by 0.8% in the second quarter. Creative Planning now owns 1,730 shares of the company’s stock valued at $332,000 after buying an additional 14 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Martin Marietta Materials by 1.5% in the second quarter. Pacer Advisors Inc. now owns 1,118 shares of the company’s stock valued at $215,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Shares of Martin Marietta Materials Inc. (NYSE:MLM) traded up 0.49% on Friday, hitting $225.31. 238,516 shares of the company were exchanged. The firm has a market cap of $14.30 billion, a P/E ratio of 35.55 and a beta of 1.35. The company has a 50-day moving average price of $194.29 and a 200 day moving average price of $190.37. Martin Marietta Materials Inc. has a 52-week low of $108.31 and a 52-week high of $236.41.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, November 1st. The company reported $2.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.57 by $0.08. The firm earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 9.95%. Martin Marietta Materials’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. Analysts predict that Martin Marietta Materials Inc. will post $7.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 1st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.68 dividend on an annualized basis and a yield of 0.75%. Martin Marietta Materials’s dividend payout ratio (DPR) is 26.50%.

Several analysts have recently issued reports on MLM shares. Bank of America Corp. lowered shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 16th. They noted that the move was a valuation call. DA Davidson reaffirmed a “hold” rating and set a $210.00 target price on shares of Martin Marietta Materials in a research note on Sunday, October 9th. SunTrust Banks Inc. raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $206.00 target price on the stock in a research note on Wednesday, October 26th. Goldman Sachs Group Inc. downgraded shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $210.00 to $202.00 in a research note on Tuesday, October 11th. Finally, Zacks Investment Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Martin Marietta Materials currently has an average rating of “Hold” and an average price target of $203.43.

In other news, SVP Dana F. Guzzo sold 2,389 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $227.18, for a total transaction of $542,733.02. Following the transaction, the senior vice president now directly owns 16,837 shares in the company, valued at approximately $3,825,029.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Roselyn R. Bar sold 2,313 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $228.33, for a total transaction of $528,127.29. Following the transaction, the executive vice president now owns 46,032 shares in the company, valued at $10,510,486.56. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by company insiders.

Martin Marietta Materials Company Profile

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