Martin Marietta Materials, Inc. $MLM Shares Acquired by Atika Capital Management LLC

Atika Capital Management LLC increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 18.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 55,633 shares of the construction company’s stock after purchasing an additional 8,533 shares during the period. Martin Marietta Materials makes up approximately 3.7% of Atika Capital Management LLC’s holdings, making the stock its 8th largest position. Atika Capital Management LLC owned 0.09% of Martin Marietta Materials worth $26,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. XTX Topco Ltd bought a new position in Martin Marietta Materials during the fourth quarter valued at about $353,000. NewEdge Advisors LLC increased its stake in Martin Marietta Materials by 13.1% during the fourth quarter. NewEdge Advisors LLC now owns 2,462 shares of the construction company’s stock valued at $1,272,000 after acquiring an additional 286 shares during the period. Tower Research Capital LLC TRC increased its stake in Martin Marietta Materials by 51.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the construction company’s stock valued at $2,378,000 after acquiring an additional 1,571 shares during the period. TD Waterhouse Canada Inc. increased its stake in Martin Marietta Materials by 4.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,405 shares of the construction company’s stock valued at $2,790,000 after acquiring an additional 241 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in Martin Marietta Materials by 1.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock valued at $527,000 after acquiring an additional 19 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director owned 15,417 shares of the company’s stock, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Martin Marietta Materials Stock Down 1.4%

NYSE MLM opened at $599.3870 on Thursday. The firm has a market cap of $36.15 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 5.54 and a beta of 0.89. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The stock’s 50 day simple moving average is $570.92 and its 200 day simple moving average is $532.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.6%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.53%.

Wall Street Analysts Forecast Growth

MLM has been the topic of several research reports. Stephens restated an “overweight” rating and set a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. UBS Group upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and upped their price objective for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Raymond James Financial upped their price objective on Martin Marietta Materials from $600.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Morgan Stanley upped their price objective on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $622.63.

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.