Jennison Associates LLC Increases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Jennison Associates LLC raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 96.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,904 shares of the construction company’s stock after purchasing an additional 77,596 shares during the period. Jennison Associates LLC owned 0.26% of Martin Marietta Materials worth $78,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. CWM LLC increased its position in shares of Martin Marietta Materials by 3.1% in the 4th quarter. CWM LLC now owns 1,524 shares of the construction company’s stock valued at $760,000 after purchasing an additional 46 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Martin Marietta Materials by 1.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,739 shares of the construction company’s stock valued at $2,863,000 after purchasing an additional 85 shares during the last quarter. Signaturefd LLC increased its position in shares of Martin Marietta Materials by 30.4% in the 4th quarter. Signaturefd LLC now owns 823 shares of the construction company’s stock valued at $411,000 after purchasing an additional 192 shares during the last quarter. Robbins Farley boosted its holdings in shares of Martin Marietta Materials by 0.5% in the 4th quarter. Robbins Farley now owns 9,520 shares of the construction company’s stock valued at $4,750,000 after buying an additional 45 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of Martin Marietta Materials by 112.9% in the 4th quarter. Lindbrook Capital LLC now owns 149 shares of the construction company’s stock valued at $74,000 after buying an additional 79 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 1.5 %

Shares of NYSE:MLM opened at $584.32 on Tuesday. The stock has a market cap of $36.06 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.79 and a beta of 0.96. The firm has a fifty day moving average price of $588.42 and a 200 day moving average price of $512.48. 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, Inc. has a 1-year low of $343.79 and a 1-year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. Martin Marietta Materials’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 EPS. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 21.24 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Insiders Place Their Bets

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Roselyn R. Bar sold 10,000 shares of the firm’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 completion of the sale, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,724 shares of company stock worth $16,033,760. 0.59% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Stephens upped their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Raymond James upped their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Citigroup upped their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $588.69.

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.