Occudo Quantitative Strategies LP Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Occudo Quantitative Strategies LP lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 401.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,386 shares of the construction company’s stock after acquiring an additional 4,311 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Martin Marietta Materials were worth $2,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MLM. Lee Danner & Bass Inc. purchased a new position in Martin Marietta Materials in the fourth quarter worth $28,000. Whipplewood Advisors LLC purchased a new position in Martin Marietta Materials in the fourth quarter worth $32,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials in the fourth quarter worth $35,000. Hopwood Financial Services Inc. purchased a new position in Martin Marietta Materials in the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after purchasing an additional 34 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLM has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Seaport Res Ptn raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Morgan Stanley boosted their price objective on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Finally, Truist Financial dropped their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $599.69.

Martin Marietta Materials Trading Up 2.1%

Shares of Martin Marietta Materials stock opened at $553.36 on Tuesday. The firm has a 50-day simple moving average of $493.01 and a two-hundred day simple moving average of $528.85. The company has a market cap of $33.36 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. 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 (NYSE:MLM) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 earnings per share. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.57%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.20%.

Insider Buying and Selling

In related news, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was 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 of the company’s stock, valued at approximately $1,673,425. This trade represents a 27.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Martin Marietta Materials Company 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.