Twinbeech Capital LP Purchases New Shares in Martin Marietta Materials, Inc. (NYSE:MLM)

Twinbeech Capital LP purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 9,480 shares of the construction company's stock, valued at approximately $4,896,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Martin Marietta Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock valued at $3,705,466,000 after buying an additional 36,531 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the period. Principal Financial Group Inc. increased its stake in Martin Marietta Materials by 11.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock valued at $939,898,000 after acquiring an additional 191,043 shares during the period. Amundi raised its position in Martin Marietta Materials by 10.5% in the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock worth $808,005,000 after purchasing an additional 148,065 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Martin Marietta Materials by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock worth $758,499,000 after purchasing an additional 32,082 shares during the period. Institutional investors own 95.04% of the company's stock.

Insider Transactions at Martin Marietta Materials

In other news, SVP Michael J. Petro bought 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company's stock, valued at $1,673,425. The trade was 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.

Martin Marietta Materials Stock Down 0.5%

Shares of NYSE MLM traded down $2.93 during mid-day trading on Monday, reaching $561.76. 362,949 shares of the company's stock were exchanged, compared to its average volume of 486,765. The firm has a market capitalization of $33.87 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 4.45 and a beta of 0.89. The business has a fifty day simple moving average of $508.38 and a 200 day simple moving average of $526.64. 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, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal 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 dividend of $0.79 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.56%. Martin Marietta Materials's dividend payout ratio is 18.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MLM. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Barclays decreased their price target on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Morgan Stanley increased their price objective on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Stephens reduced their target price on shares of 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. Finally, Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Three investment 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $610.69.

Martin Marietta Materials Company 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.