CIBC Asset Management Inc Purchases 757 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

CIBC Asset Management Inc boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,484 shares of the construction company’s stock after buying an additional 757 shares during the quarter. CIBC Asset Management Inc’s holdings in Martin Marietta Materials were worth $9,411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Newbridge Financial Services Group Inc. increased its stake in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares during the last quarter. Asset Dedication LLC increased its stake in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $33,000. Fortitude Family Office LLC increased its stake in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after acquiring an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in Martin Marietta Materials during the 1st quarter worth approximately $41,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Trading Down 0.8 %

NYSE MLM opened at $583.03 on Friday. The company has a market cap of $35.63 billion, a PE ratio of 18.17, a PEG ratio of 4.04 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 month high of $633.23. The stock has a 50 day moving average of $557.57 and a 200-day moving average of $556.88.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company posted $6.94 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research reports. Citigroup lowered their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group lowered their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Loop Capital upped their price target on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group initiated coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target for the company. Finally, Barclays upped their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $634.85.

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.