Sunbeam Capital Management LLC Buys Shares of 456 Martin Marietta Materials, Inc. (NYSE:MLM)

Sunbeam Capital Management LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 456 shares of the construction company’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Proficio Capital Partners LLC lifted its stake in Martin Marietta Materials by 54,277.3% during 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. Norges Bank purchased a new position in shares of Martin Marietta Materials during the fourth quarter valued at $306,863,000. JPMorgan Chase & Co. lifted its position in shares of Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after purchasing an additional 506,705 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth $196,374,000. Finally, Alkeon Capital Management LLC raised its position in Martin Marietta Materials by 46.6% during the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company’s stock valued at $398,324,000 after acquiring an additional 245,000 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $561.76 on Friday. 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, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The company has a market cap of $33.87 billion, a PE ratio of 17.38, a PEG ratio of 4.45 and a beta of 0.89. The company’s 50-day moving average is $508.38 and its two-hundred day moving average is $527.27.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company earned $1.93 EPS. Martin Marietta Materials’s revenue was up 8.2% on a year-over-year basis. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.20%.

Insider Activity

In other news, SVP Michael J. Petro purchased 550 shares of the business’s stock in a transaction 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 completion of the purchase, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. The trade was a 6.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction that occurred 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 directly owns 3,523 shares in the company, 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. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MLM shares. Raymond James dropped their price target on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley lifted their target price on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Loop Capital decreased their price target on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, Barclays dropped their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $610.69.

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.