Teza Capital Management LLC Invests $544,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

Teza Capital Management LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,054 shares of the construction company's stock, valued at approximately $544,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLM. Strategic Wealth Partners Ltd. grew its stake in shares of Martin Marietta Materials by 16.4% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,046 shares of the construction company's stock worth $1,088,000 after acquiring an additional 289 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of 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 acquiring an additional 12,040 shares during the last quarter. Sagefield Capital LP grew its stake in shares of 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 acquiring an additional 7,941 shares during the last quarter. Skye Global Management LP grew its stake in shares of Martin Marietta Materials by 85.2% during the fourth quarter. Skye Global Management LP now owns 256,500 shares of the construction company's stock worth $132,482,000 after acquiring an additional 118,000 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of Martin Marietta Materials by 3.7% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 127,246 shares of the construction company's stock worth $65,723,000 after acquiring an additional 4,555 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Activity at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the 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 directly owns 3,523 shares of the company's stock, valued at approximately $1,673,425. This represents a 27.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Petro bought 550 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. The trade was a 6.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Stephens dropped their price target 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. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Truist Financial dropped their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Stifel Nicolaus upped their target price 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 research 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $610.69.

Martin Marietta Materials Price Performance

Shares of MLM stock traded down $2.93 during trading hours on Friday, hitting $561.76. 362,949 shares of the company's stock were exchanged, compared to its average volume of 486,765. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $33.87 billion, a P/E ratio of 17.38, a P/E/G ratio of 4.45 and a beta of 0.89. The firm has a 50 day moving average of $508.38 and a two-hundred day moving average of $527.27. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week 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 EPS 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 firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $1.93 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS 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. Investors of record on Monday, June 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is currently 18.20%.

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.