10,700 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Bought by Crestline Management LP

Crestline Management LP bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,700 shares of the construction company's stock, valued at approximately $5,527,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Franklin Street Advisors Inc. NC grew its stake in Martin Marietta Materials by 15.5% in the 4th 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 period. RMR Wealth Builders lifted its holdings in Martin Marietta Materials by 431.3% during the fourth 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 grew its position in shares of Martin Marietta Materials by 33.9% in the fourth 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 period. Fifth Third Bancorp increased its stake in shares of Martin Marietta Materials by 24.6% during 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 stake in Martin Marietta Materials by 64.6% during the 4th 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 in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. lowered 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. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Loop Capital cut their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Finally, Truist Financial cut their price target on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $599.69.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction 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 approximately $1,673,425. The trade was a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost 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 of the company's stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.69% of the stock is currently owned by insiders.

Martin Marietta Materials Stock Up 0.0 %

Shares of MLM traded up $0.05 during midday trading on Friday, reaching $541.61. 320,149 shares of the stock were exchanged, compared to its average volume of 485,713. The company has a market cap of $32.65 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 4.45 and a beta of 0.89. The firm has a 50 day simple moving average of $491.51 and a 200-day simple moving average of $529.49. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its 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. 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 during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business earned $1.93 EPS. The business's revenue was up 8.2% on a year-over-year basis. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

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.