Atika Capital Management LLC Sells 4,050 Shares of Martin Marietta Materials, Inc. $MLM

Atika Capital Management LLC decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,483 shares of the construction company’s stock after selling 4,050 shares during the quarter. Martin Marietta Materials accounts for approximately 3.5% of Atika Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Atika Capital Management LLC owned 0.11% of Martin Marietta Materials worth $43,163,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after acquiring an additional 565,856 shares during the period. Norges Bank acquired a new position in shares of Martin Marietta Materials in the 2nd quarter valued at about $233,811,000. Principal Financial Group Inc. lifted its holdings in shares of Martin Marietta Materials by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after buying an additional 192,637 shares during the period. Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after buying an additional 93,595 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Martin Marietta Materials by 141.3% during the third quarter. BNP Paribas Financial Markets now owns 117,872 shares of the construction company’s stock worth $74,292,000 after acquiring an additional 69,016 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 1.7%

Shares of MLM opened at $597.39 on Thursday. The firm has a market cap of $36.03 billion, a P/E ratio of 31.78, a PEG ratio of 2.40 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The stock’s 50 day moving average is $655.97 and its two-hundred day moving average is $632.98. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.79 earnings per share. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be given a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.66%.

Analyst Ratings Changes

MLM has been the subject of several recent research reports. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. B. Riley Financial assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, January 15th. They set a “neutral” rating and a $700.00 price objective on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $785.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. Citigroup boosted their target price on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Stephens lowered their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Hold” and an average price target of $696.88.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.