Concentric Capital Strategies LP Invests $3.03 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

Concentric Capital Strategies LP purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,863 shares of the construction company’s stock, valued at approximately $3,028,000.

Other large investors have also recently added to or reduced their stakes in the company. Crestline Management LP purchased a new position in Martin Marietta Materials during the 4th quarter valued at about $5,527,000. Camrose Capital Investment Partners LLP acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $9,990,000. Cetera Investment Advisers lifted its stake in Martin Marietta Materials by 10.0% in the 4th quarter. Cetera Investment Advisers now owns 9,282 shares of the construction company’s stock valued at $4,794,000 after buying an additional 847 shares in the last quarter. Centiva Capital LP grew its holdings in Martin Marietta Materials by 45.1% during the 4th quarter. Centiva Capital LP now owns 7,837 shares of the construction company’s stock valued at $4,048,000 after buying an additional 2,435 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new position in Martin Marietta Materials during the fourth quarter worth $475,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Michael J. Petro purchased 550 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Trading Up 0.0 %

NYSE:MLM opened at $535.18 on Thursday. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $32.26 billion, a PE ratio of 16.55, a P/E/G ratio of 4.45 and a beta of 0.89. The business’s 50 day moving average is $488.47 and its two-hundred day moving average is $529.87.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $1.93 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 18.20%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Stifel Nicolaus increased their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a report on Wednesday, January 8th. Raymond James cut their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Finally, UBS Group lowered Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $491.00 price target on the stock. in a research note on Monday, April 7th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $599.69.

About Martin Marietta Materials

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.