CIBC Asset Management Inc Purchases 1,059 Shares of Martin Marietta Materials, Inc. (MLM)

CIBC Asset Management Inc grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,490 shares of the construction company’s stock after buying an additional 1,059 shares during the period. CIBC Asset Management Inc’s holdings in Martin Marietta Materials were worth $2,163,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Martin Marietta Materials by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,379,214 shares of the construction company’s stock worth $1,419,885,000 after buying an additional 149,816 shares during the period. BlackRock Inc. increased its position in Martin Marietta Materials by 2.2% during the 2nd quarter. BlackRock Inc. now owns 3,817,803 shares of the construction company’s stock worth $849,766,000 after buying an additional 81,136 shares during the period. Egerton Capital UK LLP increased its position in Martin Marietta Materials by 329.1% during the 2nd quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock worth $438,007,000 after buying an additional 1,509,258 shares during the period. Principal Financial Group Inc. increased its position in Martin Marietta Materials by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock worth $342,497,000 after buying an additional 282,189 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Martin Marietta Materials by 17.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,292,920 shares of the construction company’s stock worth $287,777,000 after buying an additional 188,942 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Martin Marietta Materials, Inc. (NYSE:MLM) opened at $207.72 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 1.50. Martin Marietta Materials, Inc. has a 12-month low of $191.09 and a 12-month high of $244.32. The company has a market capitalization of $13,210.00, a price-to-earnings ratio of 30.93, a P/E/G ratio of 2.21 and a beta of 1.14.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.39 EPS for the quarter, missing the Zacks’ consensus estimate of $2.45 by ($0.06). Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The company had revenue of $1.02 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business posted $2.49 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. analysts expect that Martin Marietta Materials, Inc. will post 6.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 30th. Martin Marietta Materials’s payout ratio is currently 25.66%.

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Several research analysts have weighed in on MLM shares. SunTrust Banks, Inc. reiterated a “buy” rating and set a $228.00 price objective on shares of Martin Marietta Materials in a research report on Friday, October 27th. Jefferies Group LLC reiterated a “buy” rating and set a $240.00 price objective on shares of Martin Marietta Materials in a research report on Wednesday, October 11th. Citigroup Inc. restated a “buy” rating and issued a $260.00 price target (down previously from $270.00) on shares of Martin Marietta Materials in a research report on Monday, October 9th. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, DA Davidson restated a “hold” rating and issued a $225.00 price target on shares of Martin Marietta Materials in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $242.43.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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

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