Two Sigma Advisers LP Buys 56,200 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Two Sigma Advisers LP increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 98.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,500 shares of the construction company's stock after acquiring an additional 56,200 shares during the period. Two Sigma Advisers LP owned about 0.19% of Martin Marietta Materials worth $58,623,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC increased its position in shares of Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock worth $474,370,000 after purchasing an additional 916,743 shares during the last quarter. Norges Bank acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $306,863,000. JPMorgan Chase & Co. grew its stake in shares of 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 buying an additional 506,705 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth $196,374,000. Finally, Alkeon Capital Management LLC increased its holdings in Martin Marietta Materials by 46.6% during the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock worth $398,324,000 after buying an additional 245,000 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $568.38 on Tuesday. The firm has a 50-day moving average price of $501.78 and a two-hundred day moving average price of $527.68. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The company has a market capitalization of $34.26 billion, a P/E ratio of 17.58, a P/E/G ratio of 4.45 and a beta of 0.89. 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 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 the consensus estimate of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 earnings per share. Analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business 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. 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 payout ratio is 18.20%.

Insider Transactions at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on 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 owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael J. Petro acquired 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the transaction, the senior vice president now 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. 0.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of recent analyst reports. Raymond James cut their price target on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Morgan Stanley boosted 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. Stephens decreased their target price on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Finally, UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price objective for the company from $548.00 to $634.00 in a report on Friday. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.

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