CIBC Private Wealth Group LLC Decreases Stock Holdings in Martin Marietta Materials, Inc. $MLM

CIBC Private Wealth Group LLC reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 30.8% during the third quarter, HoldingsChannel.com reports. The fund owned 481,937 shares of the construction company’s stock after selling 214,951 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Martin Marietta Materials were worth $303,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of MLM. Schear Investment Advisers LLC grew its stake in Martin Marietta Materials by 0.6% in the 3rd quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock valued at $1,721,000 after purchasing an additional 16 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of Martin Marietta Materials by 3.9% during the 3rd quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock worth $283,000 after purchasing an additional 17 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of Martin Marietta Materials by 2.9% in the 3rd quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock worth $407,000 after buying an additional 18 shares during the last quarter. Vise Technologies Inc. boosted its holdings in shares of Martin Marietta Materials by 2.5% in the 3rd quarter. Vise Technologies Inc. now owns 731 shares of the construction company’s stock worth $461,000 after buying an additional 18 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its position in Martin Marietta Materials by 1.9% during the second quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock valued at $533,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.4%

Shares of Martin Marietta Materials stock opened at $582.91 on Wednesday. The stock has a market capitalization of $35.16 billion, a P/E ratio of 31.01, a P/E/G ratio of 2.30 and a beta of 1.13. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $710.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. The stock’s 50-day simple moving average is $651.85 and its 200 day simple moving average is $632.30.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.Martin Marietta Materials’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.79 EPS. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be issued a $0.83 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.66%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. DA Davidson set a $680.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Royal Bank Of Canada reissued a “sector perform” rating and set a $630.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Stephens lowered their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Finally, Morgan Stanley dropped their price objective on Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating on the stock in a research note on Monday, March 9th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $696.88.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.