Atika Capital Management LLC Purchases 16,600 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Atika Capital Management LLC increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 54.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,100 shares of the construction company’s stock after buying an additional 16,600 shares during the quarter. Martin Marietta Materials comprises approximately 2.6% of Atika Capital Management LLC’s holdings, making the stock its 8th largest position. Atika Capital Management LLC owned approximately 0.08% of Martin Marietta Materials worth $24,327,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Ilmarinen Mutual Pension Insurance Co boosted its holdings in Martin Marietta Materials by 50.0% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 6,000 shares of the construction company’s stock worth $3,099,000 after buying an additional 2,000 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Martin Marietta Materials by 76.5% during the 4th quarter. Russell Investments Group Ltd. now owns 110,943 shares of the construction company’s stock worth $57,375,000 after acquiring an additional 48,080 shares in the last quarter. Wedbush Securities Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter worth $312,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $2,590,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $511,000. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MLM. Truist Financial dropped their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a research report on Wednesday, January 8th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a research report on Wednesday, December 11th. Finally, StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $626.50.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

Martin Marietta Materials Trading Down 3.0 %

Shares of NYSE MLM opened at $470.33 on Friday. The business has a 50 day simple moving average of $500.39 and a 200 day simple moving average of $537.18. Martin Marietta Materials, Inc. has a 52 week low of $448.50 and a 52 week high of $633.23. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s payout ratio is 9.77%.

About Martin Marietta Materials

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.