Grantham Mayo Van Otterloo & Co. LLC Invests $2.59 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

Grantham Mayo Van Otterloo & Co. LLC purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,014 shares of the construction company's stock, valued at approximately $2,590,000.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on MLM shares. Truist Financial lowered their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a report on Thursday, February 13th. StockNews.com downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Loop Capital cut their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Stifel Nicolaus assumed coverage on Martin Marietta Materials in a report on Tuesday, March 4th. They issued a "buy" rating and a $559.00 price objective for the company. Finally, Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $609.43.

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Insider Transactions at Martin Marietta Materials

In related news, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded up $16.39 during midday trading on Friday, hitting $491.66. 627,089 shares of the stock traded hands, compared to its average volume of 489,557. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The firm has a market capitalization of $29.98 billion, a P/E ratio of 15.21, a PEG ratio of 4.45 and a beta of 0.81. The firm has a 50-day moving average of $490.42 and a two-hundred day moving average of $533.75.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly 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, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.64%. Martin Marietta Materials's payout ratio is presently 9.77%.

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.