Ninepoint Partners LP Makes New $1.11 Million Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Ninepoint Partners LP bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 2,231 shares of the construction company’s stock, valued at approximately $1,113,000. Martin Marietta Materials accounts for 0.1% of Ninepoint Partners LP’s holdings, making the stock its 26th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLM. Independence Bank of Kentucky lifted its stake in shares of Martin Marietta Materials by 16.9% in the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after purchasing an additional 22 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Martin Marietta Materials by 5.0% in the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after purchasing an additional 22 shares during the period. Spreng Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 3.1% in the 4th quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock valued at $387,000 after purchasing an additional 23 shares during the period. Park Place Capital Corp lifted its stake in shares of Martin Marietta Materials by 11.3% in the 4th quarter. Park Place Capital Corp now owns 247 shares of the construction company’s stock valued at $123,000 after purchasing an additional 25 shares during the period. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Martin Marietta Materials by 2.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,260 shares of the construction company’s stock valued at $629,000 after purchasing an additional 25 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stephens boosted their target price on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Raymond James boosted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $588.69.

Insider Activity at Martin Marietta Materials

In related news, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the transaction, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the sale, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the sale, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,724 shares of company stock worth $16,033,760. Insiders own 0.61% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded down $10.32 during midday trading on Friday, reaching $576.81. The company’s stock had a trading volume of 237,307 shares, compared to its average volume of 400,052. Martin Marietta Materials, Inc. has a 12-month low of $343.79 and a 12-month high of $626.67. The firm has a 50 day moving average price of $586.40 and a 200-day moving average price of $508.75. The stock has a market capitalization of $35.60 billion, a P/E ratio of 31.18, a PEG ratio of 2.88 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the business earned $3.04 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 21.23 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were paid a $0.74 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.51%. Martin Marietta Materials’s payout ratio is 15.72%.

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.