Sunbeam Capital Management LLC Takes $235,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Sunbeam Capital Management LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 456 shares of the construction company's stock, valued at approximately $235,000.

Other institutional investors have also added to or reduced their stakes in the company. Waverly Advisors LLC increased its holdings in Martin Marietta Materials by 78.9% during the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock worth $538,000 after buying an additional 459 shares during the last quarter. Fifth Third Bancorp increased its holdings in 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 buying an additional 1,382 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings 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. Clarendon Private LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth $383,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Martin Marietta Materials during the fourth quarter worth $547,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MLM has been the topic of a number of recent analyst reports. UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $548.00 to $634.00 in a report on Friday, May 16th. Loop Capital decreased their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Barclays decreased their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus upped their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Morgan Stanley upped their price objective 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. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $610.69.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded down $16.69 during trading on Wednesday, reaching $550.80. The company's stock had a trading volume of 614,871 shares, compared to its average volume of 487,824. The business's 50-day moving average price is $512.93 and its 200-day moving average price is $526.69. The firm has a market cap of $33.20 billion, a PE ratio of 17.04, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. 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 (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.88 by $0.02. The company 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%. Martin Marietta Materials's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 earnings per share. 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 disclosed 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. Martin Marietta Materials's payout ratio is 18.20%.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of 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 represents a 6.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.