Martin Marietta Materials, Inc. (NYSE:MLM) is Atika Capital Management LLC's 8th Largest Position

Atika Capital Management LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 54.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,100 shares of the construction company's stock after purchasing an additional 16,600 shares during the period. Martin Marietta Materials accounts for about 2.6% of Atika Capital Management LLC's investment portfolio, making the stock its 8th biggest position. Atika Capital Management LLC owned approximately 0.08% of Martin Marietta Materials worth $24,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLM. Proficio Capital Partners LLC raised its position in shares of Martin Marietta Materials by 54,277.3% in the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock worth $474,370,000 after acquiring an additional 916,743 shares in the last quarter. Principal Financial Group Inc. lifted its position 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 valued at $876,648,000 after buying an additional 704,460 shares during the last quarter. Norges Bank purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at about $306,863,000. JPMorgan Chase & Co. boosted its holdings in shares of Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after buying an additional 506,705 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $196,374,000. Institutional investors own 95.04% of the company's stock.

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Martin Marietta Materials Stock Performance

Martin Marietta Materials stock traded up $12.42 during mid-day trading on Friday, hitting $487.69. The company had a trading volume of 205,978 shares, compared to its average volume of 486,137. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $29.74 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 4.45 and a beta of 0.81. The company's fifty day moving average is $491.34 and its 200-day moving average is $534.10. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating 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%. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.77%.

Insider Activity

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were 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 owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MLM. Citigroup decreased their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a report on Monday, January 6th. Morgan Stanley cut their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. StockNews.com cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Finally, Barclays dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus target price of $609.43.

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.