Alkeon Capital Management LLC Increases Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Alkeon Capital Management LLC increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 46.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 771,198 shares of the construction company's stock after purchasing an additional 245,000 shares during the quarter. Martin Marietta Materials accounts for approximately 0.8% of Alkeon Capital Management LLC's investment portfolio, making the stock its 17th largest holding. Alkeon Capital Management LLC owned 1.26% of Martin Marietta Materials worth $398,324,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after purchasing an additional 704,460 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Martin Marietta Materials during the third quarter valued at approximately $197,000. Tidal Investments LLC lifted its holdings in Martin Marietta Materials by 89.3% in the third quarter. Tidal Investments LLC now owns 8,008 shares of the construction company's stock valued at $4,310,000 after acquiring an additional 3,778 shares during the period. Franklin Resources Inc. boosted its position in Martin Marietta Materials by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company's stock worth $295,397,000 after purchasing an additional 9,908 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock worth $1,441,663,000 after purchasing an additional 506,705 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Up 1.6 %

MLM traded up $8.58 on Thursday, hitting $543.04. 166,374 shares of the company were exchanged, compared to its average volume of 484,000. The firm has a 50-day moving average price of $488.47 and a two-hundred day moving average price of $529.87. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a market cap of $32.74 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.88 by $0.02. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.93 EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio (DPR) is currently 18.20%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MLM shares. Barclays lowered their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Morgan Stanley upped their target price on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research note on Tuesday. Truist Financial cut their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $599.69.

Insider Activity

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares of the company's stock, valued at $1,673,425. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.68% of the company's stock.

Martin Marietta Materials Company 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.