Atika Capital Management LLC Has $26.60 Million Stake in Martin Marietta Materials, Inc. $MLM

Key Points

• Atika Capital Management LLC increased its holdings in Martin Marietta Materials by 18.1%, acquiring an additional 8,533 shares, bringing total ownership to 55,633 shares valued at approximately $26.6 million.
• Martin Marietta Materials reported a $5.43 EPS for the last quarter, slightly missing analysts' estimates, and had a revenue of $1.81 billion, compared to the consensus estimate of $1.88 billion.
• The company announced a quarterly dividend increase to $0.83 per share from its previous $0.79, reflecting positive financial momentum with a current dividend yield of 0.6%.

Atika Capital Management LLC raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 55,633 shares of the construction company's stock after purchasing an additional 8,533 shares during the quarter. Martin Marietta Materials accounts for about 3.7% of Atika Capital Management LLC's investment portfolio, making the stock its 8th biggest position. Atika Capital Management LLC owned about 0.09% of Martin Marietta Materials worth $26,600,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. GDS Wealth Management boosted its position in shares of Martin Marietta Materials by 86.5% during the 1st quarter. GDS Wealth Management now owns 11,083 shares of the construction company's stock valued at $5,299,000 after acquiring an additional 5,141 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $442,000. Credit Agricole S A boosted its position in shares of Martin Marietta Materials by 14.4% during the 1st quarter. Credit Agricole S A now owns 61,597 shares of the construction company's stock valued at $29,451,000 after acquiring an additional 7,775 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Martin Marietta Materials by 4.5% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,314 shares of the construction company's stock valued at $628,000 after acquiring an additional 56 shares in the last quarter. Finally, JT Stratford LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $722,000. Institutional investors own 95.04% of the company's stock.

Insider Buying and Selling at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the sale, the director directly owned 15,417 shares of the company's stock, valued at $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.69% of the stock is currently owned by company insiders.

Martin Marietta Materials Price Performance

Shares of MLM stock traded up $6.2940 during trading hours on Friday, reaching $607.0340. 363,773 shares of the company were exchanged, compared to its average volume of 433,691. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. The company has a market cap of $36.61 billion, a price-to-earnings ratio of 33.67, a P/E/G ratio of 5.54 and a beta of 0.89. The stock's fifty day moving average is $573.18 and its two-hundred day moving average is $532.93. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share 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 company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, September 2nd. Martin Marietta Materials's payout ratio is presently 17.53%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MLM. Royal Bank Of Canada reiterated a "sector perform" rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Raymond James Financial boosted their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Morgan Stanley boosted their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, Stephens restated an "overweight" rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.