Weiss Multi Strategy Advisers LLC Purchases New Stake in Martin Marietta Materials, Inc. (MLM)

Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,653 shares of the construction company’s stock, valued at approximately $4,289,000.

A number of other large investors have also bought and sold shares of MLM. Foundation Asset Management LP acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $21,336,000. Zurich Insurance Group Ltd FI raised its stake in Martin Marietta Materials by 20.7% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 12,684 shares of the construction company’s stock valued at $2,810,000 after buying an additional 2,173 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Martin Marietta Materials by 8.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 14,868 shares of the construction company’s stock valued at $3,292,000 after buying an additional 1,137 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $243,000. Finally, Cantab Capital Partners LLP raised its stake in Martin Marietta Materials by 883.2% in the fourth quarter. Cantab Capital Partners LLP now owns 1,229 shares of the construction company’s stock valued at $272,000 after buying an additional 1,104 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

Shares of Martin Marietta Materials, Inc. (NYSE MLM) traded down 0.97% on Tuesday, hitting $229.48. 246,630 shares of the company’s stock were exchanged. The stock has a market cap of $14.41 billion, a price-to-earnings ratio of 34.63 and a beta of 1.21. The company’s 50-day moving average price is $230.98 and its 200 day moving average price is $223.45. Martin Marietta Materials, Inc. has a 12-month low of $167.06 and a 12-month high of $244.32.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, May 2nd. The construction company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.05. The business had revenue of $791.70 million for the quarter, compared to the consensus estimate of $729.28 million. Martin Marietta Materials had a net margin of 10.91% and a return on equity of 10.32%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. On average, equities analysts predict that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Tuesday, May 30th. Martin Marietta Materials’s payout ratio is 25.42%.

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Several equities research analysts have commented on the stock. Stephens upped their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, May 4th. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. BidaskClub raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Finally, Cleveland Research raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $229.29.

In other news, CFO Anne H. Lloyd sold 6,472 shares of Martin Marietta Materials stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $238.73, for a total value of $1,545,060.56. Following the sale, the chief financial officer now owns 69,941 shares of the company’s stock, valued at $16,697,014.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Donald A. Mccunniff sold 1,391 shares of Martin Marietta Materials stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $240.17, for a total transaction of $334,076.47. Following the completion of the sale, the senior vice president now directly owns 19,858 shares in the company, valued at approximately $4,769,295.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,121 shares of company stock worth $4,332,440. Insiders own 1.06% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MLM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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