Concentric Capital Strategies LP Acquires New Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Concentric Capital Strategies LP bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,863 shares of the construction company's stock, valued at approximately $3,028,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Street Advisors Inc. NC lifted its stake in Martin Marietta Materials by 15.5% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company's stock valued at $13,037,000 after acquiring an additional 3,384 shares during the last quarter. RMR Wealth Builders raised its holdings in shares of Martin Marietta Materials by 431.3% during the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company's stock valued at $1,235,000 after purchasing an additional 1,941 shares in the last quarter. InTrack Investment Management Inc lifted its stake in shares of Martin Marietta Materials by 33.9% in the 4th quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company's stock valued at $1,784,000 after purchasing an additional 872 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Martin Marietta Materials by 24.6% in the fourth quarter. Fifth Third Bancorp now owns 7,005 shares of the construction company's stock worth $3,618,000 after purchasing an additional 1,382 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Martin Marietta Materials by 64.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company's stock worth $1,047,000 after buying an additional 796 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MLM has been the subject of a number of analyst reports. StockNews.com raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Morgan Stanley upped their price target on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. downgraded Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. Finally, Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $599.69.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded up $0.05 during midday trading on Friday, reaching $541.61. 320,149 shares of the company traded hands, compared to its average volume of 486,301. The stock's 50-day simple moving average is $491.51 and its 200-day simple moving average is $529.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The firm has a market cap of $32.65 billion, a PE ratio of 16.75, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating 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 firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials's payout ratio is 18.20%.

Insiders Place Their Bets

In related news, SVP Michael J. Petro purchased 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, 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 sale, the executive vice president now owns 3,523 shares of the company's stock, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.69% of the company's stock.

Martin Marietta Materials 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.