Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 55.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 237,162 shares of the construction company’s stock after purchasing an additional 85,065 shares during the period. Two Sigma Investments LP’s holdings in Martin Marietta Materials were worth $122,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $32,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $35,000. Hopwood Financial Services Inc. acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Martin Marietta Materials by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents 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 company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on MLM shares. Stifel Nicolaus increased their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. UBS Group upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and upped their price target for the company from $548.00 to $634.00 in a research report on Friday. Barclays reduced their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Finally, Raymond James reduced their price target 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. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $610.69.

Martin Marietta Materials Stock Up 2.1%

MLM stock opened at $564.51 on Monday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month 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 $34.03 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 4.45 and a beta of 0.89. The company has a 50 day moving average of $499.71 and a two-hundred day moving average of $528.22.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a $0.79 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.56%. Martin Marietta Materials’s payout ratio is 18.20%.

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.