Fox Run Management L.L.C. Acquires New Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Fox Run Management L.L.C. purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,357 shares of the construction company's stock, valued at approximately $1,217,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC grew its holdings in Martin Marietta Materials by 54,277.3% in the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock valued at $474,370,000 after purchasing an additional 916,743 shares during the last quarter. Principal Financial Group Inc. grew its stake in Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock valued at $876,648,000 after acquiring an additional 704,460 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Martin Marietta Materials by 23.3% during 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 acquiring 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 about $196,374,000. Finally, FMR LLC lifted its holdings in shares of Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock valued at $1,353,936,000 after purchasing an additional 334,605 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

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Insider Buying and Selling

In other news, SVP Michael J. Petro purchased 550 shares of the company's stock in a transaction on 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 completion of the purchase, the senior vice president now owns 8,985 shares of the company's stock, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials 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 sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Martin Marietta Materials Trading Down 0.5 %

Shares of NYSE:MLM traded down $2.38 during trading on Tuesday, reaching $488.31. 360,476 shares of the stock were exchanged, compared to its average volume of 460,834. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23. The firm's 50-day moving average price is $510.82 and its 200 day moving average price is $539.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a market cap of $29.77 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is 9.77%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus began coverage on shares of Martin Marietta Materials in a research note on Tuesday, March 4th. They set a "buy" rating and a $559.00 price objective for the company. Barclays cut their price target on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Raymond James decreased their price objective on Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price target on the stock in a research note on Wednesday, December 11th. Finally, Wolfe Research upgraded shares of Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 target price on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $628.64.

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.