CIBC Asset Management Inc Boosts Position in Martin Marietta Materials, Inc. (NYSE:MLM)

CIBC Asset Management Inc boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,404 shares of the construction company’s stock after purchasing an additional 336 shares during the quarter. CIBC Asset Management Inc’s holdings in Martin Marietta Materials were worth $1,943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aristotle Capital Management LLC increased its stake in Martin Marietta Materials by 8.5% in the first quarter. Aristotle Capital Management LLC now owns 2,940,114 shares of the construction company’s stock valued at $556,358,000 after purchasing an additional 230,468 shares during the last quarter. Engineers Gate Manager LP increased its stake in Martin Marietta Materials by 178.5% in the first quarter. Engineers Gate Manager LP now owns 3,027 shares of the construction company’s stock valued at $573,000 after purchasing an additional 1,940 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in Martin Marietta Materials by 68.2% in the first quarter. Pinnacle Associates Ltd. now owns 2,491 shares of the construction company’s stock valued at $471,000 after purchasing an additional 1,010 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Martin Marietta Materials by 5.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,249 shares of the construction company’s stock valued at $804,000 after purchasing an additional 224 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Martin Marietta Materials by 9.7% in the first quarter. Alliancebernstein L.P. now owns 106,332 shares of the construction company’s stock valued at $20,121,000 after purchasing an additional 9,428 shares during the last quarter. 95.07% of the stock is owned by institutional investors.

In related news, Director Stephen P. Zelnak, Jr. sold 16,885 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $225.55, for a total value of $3,808,411.75. Following the sale, the director now directly owns 52,769 shares in the company, valued at approximately $11,902,047.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO C Howard Nye sold 6,645 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.62, for a total value of $1,180,284.90. Following the completion of the sale, the chief executive officer now owns 176,363 shares in the company, valued at $31,325,596.06. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 2,021 shares of company stock worth $342,077 and have sold 24,880 shares worth $5,269,146. 0.73% of the stock is currently owned by corporate insiders.

Shares of Martin Marietta Materials stock opened at $207.18 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The business’s 50 day simple moving average is $212.18 and its 200-day simple moving average is $213.80. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 8.08 and a beta of 0.91. Martin Marietta Materials, Inc. has a twelve month low of $135.08 and a twelve month high of $281.82.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, July 28th. The construction company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.45. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Martin Marietta Materials had a return on equity of 11.62% and a net margin of 13.12%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.01 EPS. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 9.15 earnings per share for the current year.

Several research firms recently commented on MLM. Nomura reiterated a “buy” rating and issued a $242.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, May 6th. Atlantic Securities started coverage on Martin Marietta Materials in a research note on Friday, June 19th. They set an “overweight” rating and a $250.00 price target for the company. Citigroup upped their price target on Martin Marietta Materials from $230.00 to $263.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Loop Capital upped their price target on Martin Marietta Materials from $114.00 to $129.00 in a research note on Monday, June 22nd. Finally, DA Davidson downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a report on Wednesday, April 22nd. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $234.35.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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