New York State Teachers Retirement System Reduces Position in Martin Marietta Materials, Inc. (NYSE:MLM)

New York State Teachers Retirement System trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,409 shares of the construction company’s stock after selling 1,387 shares during the quarter. New York State Teachers Retirement System owned about 0.17% of Martin Marietta Materials worth $21,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Sun Life Financial INC increased its stake in shares of Martin Marietta Materials by 6,442.9% in the 2nd quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock worth $102,000 after acquiring an additional 451 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Martin Marietta Materials by 130.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock worth $120,000 after acquiring an additional 305 shares in the last quarter. Dupont Capital Management Corp bought a new position in shares of Martin Marietta Materials in the 2nd quarter worth about $128,000. Northwest Investment Counselors LLC bought a new position in shares of Martin Marietta Materials in the 2nd quarter worth about $134,000. Finally, Westwood Holdings Group Inc. bought a new position in shares of Martin Marietta Materials in the 2nd quarter worth about $187,000. Institutional investors own 96.07% of the company’s stock.

In related news, Director John J. Koraleski purchased 500 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average price of $198.37 per share, with a total value of $99,185.00. Following the acquisition, the director now directly owns 1,439 shares in the company, valued at approximately $285,454.43. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 8.45% of the company’s stock.

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Shares of Martin Marietta Materials, Inc. (NYSE:MLM) opened at $211.08 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.73. The stock has a market cap of $13,355.77, a PE ratio of 30.97, a PEG ratio of 2.22 and a beta of 1.14. Martin Marietta Materials, Inc. has a 1-year low of $191.09 and a 1-year high of $244.32.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.06). The company had revenue of $1.02 million for the quarter, compared to analysts’ expectations of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 EPS. sell-side analysts forecast that Martin Marietta Materials, Inc. will post 6.92 earnings per share for the current year.

Several brokerages recently issued reports on MLM. BidaskClub downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. DA Davidson reissued a “hold” rating and set a $225.00 price objective on shares of Martin Marietta Materials in a research report on Friday, November 3rd. SunTrust Banks, Inc. reissued a “buy” rating and set a $228.00 price objective on shares of Martin Marietta Materials in a research report on Friday, October 27th. Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $240.00 price objective on shares of Martin Marietta Materials in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Martin Marietta Materials has a consensus rating of “Hold” and a consensus price target of $242.43.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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