Crestline Management LP Takes Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Crestline Management LP purchased a new stake 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 (SEC). The institutional investor purchased 10,700 shares of the construction company's stock, valued at approximately $5,527,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after acquiring an additional 704,460 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Martin Marietta Materials during the third quarter worth about $197,000. JPMorgan Chase & Co. grew its position in shares of Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock worth $1,441,663,000 after acquiring an additional 506,705 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Martin Marietta Materials by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 4,918 shares of the construction company's stock worth $2,564,000 after acquiring an additional 302 shares during the last quarter. Finally, One Wealth Capital Management LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth about $226,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Trading Up 1.4%

NYSE MLM traded up $7.36 on Monday, hitting $549.21. 101,370 shares of the company were exchanged, compared to its average volume of 484,788. The company's 50 day moving average price is $491.51 and its 200-day moving average price is $528.97. 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 firm has a market capitalization of $33.11 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.93 EPS. Analysts predict 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 announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $0.79 dividend. The ex-dividend date 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 dividend payout ratio is 18.20%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MLM shares. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Raymond James lowered 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. JPMorgan Chase & Co. lowered shares of 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 report on Wednesday, March 19th. Loop Capital decreased their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, UBS Group lowered shares of Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 target price for the company. in a research report on Monday, April 7th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average target price of $599.69.

Insider Buying and Selling

In related news, SVP Michael J. Petro bought 550 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the transaction, the senior vice president now directly owns 8,985 shares of the company's stock, valued at $4,082,514.45. This trade represents a 6.52% increase in their ownership of the stock. The transaction 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 company's stock in a transaction that occurred 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 directly 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.

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.