Cibc World Markets Corp Boosts Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Cibc World Markets Corp grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 297.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,122 shares of the construction company’s stock after buying an additional 24,798 shares during the period. Cibc World Markets Corp’s holdings in Martin Marietta Materials were worth $17,108,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its stake in shares of Martin Marietta Materials by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock worth $421,000 after acquiring an additional 19 shares during the period. Checchi Capital Advisers LLC increased its position in Martin Marietta Materials by 1.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock worth $690,000 after purchasing an additional 19 shares during the period. iA Global Asset Management Inc. raised its stake in shares of Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after buying an additional 20 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Martin Marietta Materials by 4.7% in the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after buying an additional 20 shares during the period. Finally, Financial Counselors Inc. boosted its stake in shares of Martin Marietta Materials by 1.9% in the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

MLM has been the subject of several research analyst reports. Stephens cut their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Loop Capital reduced their price objective 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. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a research report on Wednesday, January 8th. Finally, HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $634.36.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $489.30 on Tuesday. The company has a 50-day simple moving average of $513.52 and a 200-day simple moving average of $540.64. 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 company has a market cap of $29.83 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 12 month low of $448.50 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping 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%. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

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

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.