Aquatic Capital Management LLC Purchases Shares of 6,922 Martin Marietta Materials, Inc. (NYSE:MLM)

Aquatic Capital Management LLC bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,922 shares of the construction company's stock, valued at approximately $3,575,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at $15,355,000. Virtus ETF Advisers LLC purchased a new position in Martin Marietta Materials in the 4th quarter valued at about $1,027,000. Gilder Gagnon Howe & Co. LLC lifted its stake in Martin Marietta Materials by 5.2% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 66,572 shares of the construction company's stock valued at $34,384,000 after buying an additional 3,263 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in Martin Marietta Materials in the 4th quarter worth about $932,000. Finally, Burling Wealth Partners LLC purchased a new stake in Martin Marietta Materials during the 4th quarter worth approximately $952,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Trading Up 2.6 %

NYSE:MLM traded up $13.73 during trading hours on Friday, reaching $536.61. 386,424 shares of the company were exchanged, compared to its average volume of 485,810. The firm has a market cap of $32.52 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The stock has a 50 day simple moving average of $484.39 and a 200 day simple moving average of $530.82.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Martin Marietta Materials's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.59%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is currently 9.77%.

Insider Buying and Selling

In other news, SVP Michael J. Petro purchased 550 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, the senior vice president now owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. The trade was 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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MLM. Wolfe Research raised Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price target on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a report on Thursday. StockNews.com cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Truist Financial lowered their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, 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 note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average price target of $603.23.

Martin Marietta Materials Company Profile

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.