Bornite Capital Management LP Makes New $30.99 Million Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Bornite Capital Management LP purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 60,000 shares of the construction company's stock, valued at approximately $30,990,000. Martin Marietta Materials accounts for approximately 4.2% of Bornite Capital Management LP's investment portfolio, making the stock its 8th largest position. Bornite Capital Management LP owned 0.10% of Martin Marietta Materials as of its most recent SEC filing.

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

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Insiders Place Their Bets

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm's 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 transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials Trading Down 1.9 %

Shares of MLM stock traded down $8.70 on Wednesday, reaching $443.81. 123,097 shares of the stock were exchanged, compared to its average volume of 484,445. Martin Marietta Materials, Inc. has a 1-year low of $442.00 and a 1-year high of $633.23. The firm has a 50 day moving average of $495.06 and a two-hundred day moving average of $535.32. The stock has a market cap of $27.06 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. 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 posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is currently 9.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MLM shares. Stephens decreased their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. BNP Paribas lowered Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. StockNews.com downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. 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 note on Tuesday, December 17th. Finally, Hsbc Global Res raised shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average target price of $609.43.

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.