Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 297.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,122 shares of the construction company’s stock after purchasing an additional 24,798 shares during the quarter. Cibc World Markets Corp owned about 0.05% of Martin Marietta Materials worth $17,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MLM. Whipplewood Advisors LLC purchased a new position in Martin Marietta Materials during the fourth quarter worth about $32,000. Kestra Investment Management LLC purchased a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $35,000. Hopwood Financial Services Inc. purchased a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $36,000. EverSource Wealth Advisors LLC raised its position in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. Finally, R Squared Ltd acquired a new position in Martin Marietta Materials during the fourth quarter worth $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MLM has been the subject of a number of research analyst reports. Stephens lowered their target price on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Citigroup dropped their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Loop Capital dropped their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus began coverage on Martin Marietta Materials in a research report on Tuesday, March 4th. They set a “buy” rating and a $559.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $634.36.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials 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 transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is owned by company insiders.

Martin Marietta Materials Trading Up 2.5 %

NYSE MLM opened at $489.30 on Tuesday. Martin Marietta Materials, Inc. has a 12 month low of $448.50 and a 12 month high of $633.23. The company has a market capitalization of $29.83 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The firm’s fifty day moving average price is $513.52 and its 200 day moving average price is $540.64.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

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.