Quantbot Technologies LP Acquires 1,680 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Quantbot Technologies LP boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 147.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,816 shares of the construction company’s stock after acquiring an additional 1,680 shares during the quarter. Quantbot Technologies LP’s holdings in Martin Marietta Materials were worth $1,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in Martin Marietta Materials by 76.2% in the third 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. Intech Investment Management LLC boosted its stake in Martin Marietta Materials by 9.6% in the third quarter. Intech Investment Management LLC now owns 4,120 shares of the construction company’s stock valued at $2,218,000 after acquiring an additional 361 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Martin Marietta Materials by 5.6% during the 3rd quarter. Raymond James Trust N.A. now owns 1,724 shares of the construction company’s stock valued at $928,000 after acquiring an additional 91 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Martin Marietta Materials by 28.9% in the 3rd quarter. Cerity Partners LLC now owns 26,302 shares of the construction company’s stock valued at $14,157,000 after purchasing an additional 5,899 shares during the period. Finally, Swedbank AB boosted its position in shares of Martin Marietta Materials by 326.4% in the 3rd quarter. Swedbank AB now owns 3,492 shares of the construction company’s stock worth $1,880,000 after purchasing an additional 2,673 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

MLM opened at $490.51 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The business has a fifty day simple moving average of $510.82 and a 200 day simple moving average of $539.41. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23. The company has a market capitalization of $29.91 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last announced 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 net margin of 30.54% and a return on equity of 12.11%. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm 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 $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.64%. Martin Marietta Materials’s payout ratio is 9.77%.

Wall Street Analyst Weigh In

MLM has been the subject of several analyst reports. Morgan Stanley decreased their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. 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. Loop Capital reduced their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a research note on Wednesday, December 11th. Finally, Truist Financial cut their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $628.64.

Insider Activity

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was 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 approximately $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Petro acquired 550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the transaction, the senior vice president now directly 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 disclosure for this purchase can be found here. 0.68% of the stock is owned by company insiders.

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.