Brevan Howard Capital Management LP Acquires Shares of 919 Martin Marietta Materials, Inc. (NYSE:MLM)

Brevan Howard Capital Management LP bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 919 shares of the construction company’s stock, valued at approximately $475,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its holdings in Martin Marietta Materials by 1.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock worth $690,000 after purchasing an additional 19 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Martin Marietta Materials by 1.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock valued at $527,000 after buying an additional 19 shares during the period. Brooklyn Investment Group raised its holdings in shares of Martin Marietta Materials by 4.7% in the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after acquiring an additional 20 shares in the last quarter. OLD National Bancorp IN lifted its stake in Martin Marietta Materials by 4.5% in the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock worth $249,000 after acquiring an additional 21 shares during the period. Finally, Signaturefd LLC grew its holdings in Martin Marietta Materials by 2.6% during the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company’s stock worth $431,000 after acquiring an additional 21 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $541.61 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The business has a fifty day moving average of $491.51 and a 200 day moving average of $529.49. The firm has a market capitalization of $32.65 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. Martin Marietta Materials’s payout ratio is currently 18.20%.

Insider Buying and Selling

In related news, SVP Michael J. Petro purchased 550 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Loop Capital lowered their target price on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. UBS Group downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $491.00 price target on the stock. in a report on Monday, April 7th. Morgan Stanley upped their price objective on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Stephens cut their target price on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price 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.