Cercano Management LLC Makes New Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Cercano Management LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,705 shares of the construction company's stock, valued at approximately $21,306,000. Cercano Management LLC owned 0.07% of Martin Marietta Materials as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MLM. Pinnacle Bancorp Inc. acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth about $26,000. MV Capital Management Inc. increased its stake in shares of Martin Marietta Materials by 144.4% during the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company's stock worth $27,000 after acquiring an additional 39 shares during the period. Exchange Traded Concepts LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth about $27,000. Covestor Ltd grew its position in Martin Marietta Materials by 84.6% during the third quarter. Covestor Ltd now owns 72 shares of the construction company's stock worth $30,000 after buying an additional 33 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group grew its position in Martin Marietta Materials by 74.3% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company's stock worth $30,000 after buying an additional 26 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup upped their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a "buy" rating in a research report on Friday, April 5th. The Goldman Sachs Group upped their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Wolfe Research lowered shares of Martin Marietta Materials from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 8th. Stephens upped their price target on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Finally, Morgan Stanley started coverage on shares of Martin Marietta Materials in a report on Monday, January 8th. They issued an "overweight" rating and a $595.00 price target on the stock. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $588.69.

Insider Transactions at Martin Marietta Materials

In related news, CEO C Howard Nye sold 15,000 shares of the firm's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the sale, the chief executive officer now directly owns 134,640 shares of the company's stock, valued at approximately $81,357,566.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Roselyn R. Bar sold 10,000 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the transaction, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock valued at $16,033,760 over the last 90 days. Corporate insiders own 0.61% of the company's stock.

Martin Marietta Materials Trading Up 1.3 %

Shares of Martin Marietta Materials stock traded up $7.92 during trading hours on Friday, hitting $604.99. The company's stock had a trading volume of 386,242 shares, compared to its average volume of 397,845. Martin Marietta Materials, Inc. has a 1-year low of $345.03 and a 1-year high of $626.67. The business has a fifty day moving average of $593.37 and a 200 day moving average of $517.16. The company has a market capitalization of $37.34 billion, a PE ratio of 32.13, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The business's quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 21.3 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials's payout ratio is currently 15.72%.

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.