CIBC Asset Management Inc Raises Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

CIBC Asset Management Inc boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,155 shares of the construction company’s stock after purchasing an additional 427 shares during the quarter. CIBC Asset Management Inc’s holdings in Martin Marietta Materials were worth $5,833,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. IFM Investors Pty Ltd boosted its position in shares of Martin Marietta Materials by 24.1% during the 1st quarter. IFM Investors Pty Ltd now owns 10,098 shares of the construction company’s stock worth $3,887,000 after acquiring an additional 1,958 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $377,000. Mader & Shannon Wealth Management Inc. boosted its position in shares of Martin Marietta Materials by 111.0% in the 1st quarter. Mader & Shannon Wealth Management Inc. now owns 14,827 shares of the construction company’s stock valued at $5,707,000 after purchasing an additional 7,801 shares during the period. First Foundation Advisors boosted its position in shares of Martin Marietta Materials by 110.9% in the 1st quarter. First Foundation Advisors now owns 1,126 shares of the construction company’s stock valued at $433,000 after purchasing an additional 592 shares during the period. Finally, Principal Street Partners LLC lifted its position in Martin Marietta Materials by 19.4% during the 1st quarter. Principal Street Partners LLC now owns 2,090 shares of the construction company’s stock worth $804,000 after acquiring an additional 339 shares during the period. 93.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MLM. Truist Financial decreased their price objective on Martin Marietta Materials to $392.00 in a research report on Tuesday, July 5th. TheStreet cut Martin Marietta Materials from a “b” rating to a “c+” rating in a research report on Tuesday, May 10th. DA Davidson cut their target price on Martin Marietta Materials from $450.00 to $375.00 and set a “buy” rating for the company in a research note on Friday, July 1st. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $420.00 to $410.00 in a research note on Friday, June 3rd. Finally, Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and cut their target price for the stock from $406.00 to $384.00 in a research note on Thursday, July 14th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $418.10.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $355.93 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $284.99 and a 1-year high of $446.46. The company has a market capitalization of $22.20 billion, a P/E ratio of 27.87, a PEG ratio of 1.76 and a beta of 0.88. The business has a 50 day moving average price of $323.27 and a 200 day moving average price of $352.64. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.63 and a quick ratio of 2.53.

Martin Marietta Materials (NYSE:MLMGet Rating) last released its quarterly earnings data on Thursday, July 28th. The construction company reported $3.96 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.13). Martin Marietta Materials had a net margin of 13.49% and a return on equity of 11.28%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the business earned $3.81 earnings per share. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 13.28 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 1st were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, May 31st. Martin Marietta Materials’s payout ratio is currently 19.11%.

Martin Marietta Materials Company Profile

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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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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