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

Ninepoint Partners LP purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,231 shares of the construction company’s stock, valued at approximately $1,113,000. Martin Marietta Materials comprises about 0.1% of Ninepoint Partners LP’s portfolio, making the stock its 26th biggest position.

Several other institutional investors and hedge funds have also modified their holdings of MLM. Fairfield Bush & CO. purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth $46,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Martin Marietta Materials by 4.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,276 shares of the construction company’s stock worth $150,599,000 after acquiring an additional 15,163 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Martin Marietta Materials by 0.4% during the 1st quarter. Yousif Capital Management LLC now owns 9,391 shares of the construction company’s stock valued at $3,615,000 after buying an additional 40 shares in the last quarter. Prudential PLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at $456,000. Finally, Cetera Investment Advisers lifted its stake in shares of Martin Marietta Materials by 12.8% during the 1st quarter. Cetera Investment Advisers now owns 950 shares of the construction company’s stock valued at $366,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

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

Martin Marietta Materials (NYSE:MLM) last posted 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 net margin of 17.25% and a return on equity of 15.77%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the firm posted $3.04 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 21.23 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.51%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 15.72%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MLM shares. Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. The Goldman Sachs Group lifted their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley started coverage on shares of Martin Marietta Materials in a research note on Monday, January 8th. They set an “overweight” rating and a $595.00 target price on the stock. Stifel Nicolaus lifted their target price on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research note on Monday. Finally, Citigroup lifted their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $588.69.

Insider Transactions at Martin Marietta Materials

In other news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were 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 directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the transaction, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the transaction, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The disclosure for this sale can be found here. Insiders have sold a total of 26,724 shares of company stock worth $16,033,760 in the last three months. Insiders own 0.61% 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.