Two Sigma Investments LP Buys 85,065 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Two Sigma Investments LP raised its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 55.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,162 shares of the construction company's stock after purchasing an additional 85,065 shares during the quarter. Two Sigma Investments LP owned approximately 0.39% of Martin Marietta Materials worth $122,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Texas Bank & Trust Co bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at $568,000. Teza Capital Management LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at $544,000. Strategic Wealth Partners Ltd. raised its holdings in shares of Martin Marietta Materials by 16.4% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,046 shares of the construction company's stock valued at $1,088,000 after purchasing an additional 289 shares in the last quarter. Toronto Dominion Bank boosted its position in Martin Marietta Materials by 53.1% during the fourth quarter. Toronto Dominion Bank now owns 34,708 shares of the construction company's stock worth $17,926,000 after purchasing an additional 12,040 shares during the period. Finally, Sagefield Capital LP boosted its position in Martin Marietta Materials by 63.8% during the fourth quarter. Sagefield Capital LP now owns 20,389 shares of the construction company's stock worth $10,531,000 after purchasing an additional 7,941 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials 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 completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Petro acquired 550 shares of the business's stock in a transaction 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 transaction, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. The trade was a 6.52% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.69% of the company's stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded down $2.93 during trading on Friday, hitting $561.76. 362,949 shares of the company's stock traded hands, compared to its average volume of 485,951. The company has a market cap of $33.87 billion, a PE ratio of 17.38, a PEG ratio of 4.45 and a beta of 0.89. 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 twelve month low of $441.95 and a twelve month high of $633.23. The firm's fifty day moving average price is $506.90 and its 200 day moving average price is $528.04.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS 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 net margin of 30.54% and a return on equity of 12.11%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 earnings per share. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on MLM shares. Stifel Nicolaus upped their target price on 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 dropped their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Truist Financial dropped their price objective 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. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Finally, Stephens dropped their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $610.69.

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.