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

Sciencast Management LP purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,708 shares of the construction company's stock, valued at approximately $2,948,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth about $32,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $35,000. Hopwood Financial Services Inc. bought a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC boosted its position in Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock worth $37,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday. Truist Financial cut their price target on shares of 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. Hsbc Global Res upgraded Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Morgan Stanley lowered their target price on Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Finally, Loop Capital reduced their price target on Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus target price of $628.64.

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Insider Activity

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Petro acquired 550 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the acquisition, the senior vice president now directly owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials Trading Down 0.5 %

Shares of MLM traded down $2.38 during trading hours on Tuesday, hitting $488.31. 361,074 shares of the stock were exchanged, compared to its average volume of 460,956. Martin Marietta Materials, Inc. has a fifty-two week low of $448.50 and a fifty-two week high of $633.23. The business has a 50-day moving average of $510.24 and a 200-day moving average of $539.31. The firm has a market capitalization of $29.77 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping analysts' consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials's dividend payout ratio (DPR) is 9.77%.

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.