ExodusPoint Capital Management LP Takes $16.70 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

ExodusPoint Capital Management LP bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 32,331 shares of the construction company's stock, valued at approximately $16,699,000. ExodusPoint Capital Management LP owned about 0.05% of Martin Marietta Materials at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MLM. Lee Danner & Bass Inc. purchased a new position in Martin Marietta Materials during the 4th quarter worth $28,000. Whipplewood Advisors LLC bought a new stake in Martin Marietta Materials in the 4th quarter worth about $32,000. Kestra Investment Management LLC purchased a new stake in Martin Marietta Materials in the 4th quarter valued at about $35,000. Hopwood Financial Services Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock worth $37,000 after buying an additional 34 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

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 value of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares of the company's stock, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Petro purchased 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost 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 represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MLM shares. Stifel Nicolaus began coverage on shares of Martin Marietta Materials in a report on Tuesday, March 4th. They set a "buy" rating and a $559.00 price objective for the company. Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price objective on the stock in a research note on Wednesday, January 8th. Hsbc Global Res raised Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Truist Financial dropped their price target on 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. Finally, JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $609.43.

Martin Marietta Materials Stock Up 6.6 %

NYSE:MLM traded up $30.09 on Wednesday, reaching $482.60. 757,790 shares of the stock traded hands, compared to its average volume of 486,976. The company's fifty day simple moving average is $492.55 and its 200 day simple moving average is $534.52. The company has a market capitalization of $29.43 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 4.45 and a beta of 0.81. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. 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 (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials's payout ratio is 9.77%.

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.