Two Sigma Investments LP Has $122.49 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Checchi Capital Advisers LLC raised its holdings in Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after buying an additional 19 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Martin Marietta Materials by 1.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock worth $527,000 after acquiring an additional 19 shares during the period. Brooklyn Investment Group boosted its holdings in Martin Marietta Materials by 4.7% in the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after acquiring an additional 20 shares during the period. OLD National Bancorp IN boosted its holdings in Martin Marietta Materials by 4.5% in the 4th quarter. OLD National Bancorp IN now owns 483 shares of the construction company's stock worth $249,000 after acquiring an additional 21 shares during the period. Finally, Signaturefd LLC boosted its holdings in Martin Marietta Materials by 2.6% in the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company's stock worth $431,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

MLM stock traded down $3.31 during trading hours on Wednesday, hitting $560.31. 622,551 shares of the stock traded hands, compared to its average volume of 485,975. The stock has a 50-day simple moving average of $505.40 and a 200 day simple moving average of $528.16. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The company has a market cap of $33.78 billion, a P/E ratio of 17.33, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the business posted $1.93 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

Insider Activity at Martin Marietta Materials

In related news, SVP Michael J. Petro purchased 550 shares of the firm's stock in a transaction that occurred on 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 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction on Wednesday, March 5th. The shares were 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 of the company's stock, valued at $1,673,425. This trade represents a 27.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on MLM. Stifel Nicolaus upped their price target on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price target for the stock from $548.00 to $634.00 in a report on Friday, May 16th. Truist Financial decreased their price target on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, Stephens dropped their target price on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Three investment 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $610.69.

About Martin Marietta Materials

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.