Teza Capital Management LLC Acquires Shares of 1,054 Martin Marietta Materials, Inc. (NYSE:MLM)

Teza Capital Management LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,054 shares of the construction company's stock, valued at approximately $544,000.

Several other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock worth $1,441,663,000 after buying an additional 506,705 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in Martin Marietta Materials by 13.2% in the fourth quarter. Ritholtz Wealth Management now owns 866 shares of the construction company's stock valued at $447,000 after acquiring an additional 101 shares in the last quarter. Merit Financial Group LLC increased its position in Martin Marietta Materials by 10.8% during the 4th quarter. Merit Financial Group LLC now owns 808 shares of the construction company's stock valued at $418,000 after purchasing an additional 79 shares during the period. Ameritas Advisory Services LLC lifted its position in shares of Martin Marietta Materials by 37.1% in the 4th quarter. Ameritas Advisory Services LLC now owns 635 shares of the construction company's stock worth $328,000 after purchasing an additional 172 shares during the period. Finally, Gilman Hill Asset Management LLC boosted its stake in shares of Martin Marietta Materials by 71.1% during the 4th quarter. Gilman Hill Asset Management LLC now owns 770 shares of the construction company's stock valued at $398,000 after purchasing an additional 320 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Raymond James lowered their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Truist Financial decreased their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and raised their target price for the company from $548.00 to $634.00 in a research note on Friday. Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Stifel Nicolaus raised their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $610.69.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $568.38 on Tuesday. The firm has a market capitalization of $34.26 billion, a PE ratio of 17.58, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a 50 day moving average price of $501.78 and a 200-day moving average price of $527.68. 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 released its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the business posted $1.93 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.20%.

Insiders Place Their Bets

In related news, SVP Michael J. Petro purchased 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 completion of the acquisition, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction dated 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 directly owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.69% of the company's stock.

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.

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