9,480 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Purchased by Twinbeech Capital LP

Twinbeech Capital LP acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,480 shares of the construction company's stock, valued at approximately $4,896,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Two Sigma Advisers LP grew its position in Martin Marietta Materials by 98.1% in the fourth quarter. Two Sigma Advisers LP now owns 113,500 shares of the construction company's stock worth $58,623,000 after acquiring an additional 56,200 shares during the period. Two Sigma Investments LP grew its position in Martin Marietta Materials by 55.9% in the fourth quarter. Two Sigma Investments LP now owns 237,162 shares of the construction company's stock worth $122,494,000 after acquiring an additional 85,065 shares during the period. Texas Bank & Trust Co purchased a new position in Martin Marietta Materials in the fourth quarter worth approximately $568,000. Teza Capital Management LLC purchased a new position in shares of Martin Marietta Materials during the fourth quarter worth $544,000. Finally, Strategic Wealth Partners Ltd. boosted its position 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 buying an additional 289 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 0.5%

Martin Marietta Materials stock traded down $2.93 during midday trading on Friday, reaching $561.76. The company's stock had a trading volume of 362,949 shares, compared to its average volume of 485,951. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two 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. The company 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 business has a 50-day simple moving average of $506.90 and a 200-day simple moving average of $528.04.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating 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 company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the firm earned $1.93 earnings per share. Martin Marietta Materials's quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Insider Transactions at Martin Marietta Materials

In other news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Petro bought 550 shares of the business's stock in a transaction dated 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 transaction, 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 position. The disclosure for this purchase can be found here. Insiders own 0.69% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MLM. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Stephens lowered their price target on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Morgan Stanley raised their price target on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and raised their price target for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Finally, Stifel Nicolaus raised their price target 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. Three 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 stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of "Moderate Buy" and a consensus price target of $610.69.

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.