CIBC Asset Management Inc Has $8.79 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

CIBC Asset Management Inc lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,024 shares of the construction company’s stock after selling 460 shares during the period. CIBC Asset Management Inc’s holdings in Martin Marietta Materials were worth $8,793,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after purchasing an additional 506,705 shares in the last quarter. FMR LLC lifted its position in Martin Marietta Materials by 15.3% during the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after buying an additional 334,605 shares in the last quarter. Principal Financial Group Inc. lifted its position in Martin Marietta Materials by 11.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock worth $939,898,000 after buying an additional 191,043 shares in the last quarter. Franklin Resources Inc. lifted its position in Martin Marietta Materials by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock worth $295,397,000 after buying an additional 9,908 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after buying an additional 164,503 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $534.34 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The company has a market capitalization of $32.66 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 4.62 and a beta of 0.91. The firm’s 50 day simple moving average is $533.74 and its 200 day simple moving average is $548.21. Martin Marietta Materials, Inc. has a fifty-two week low of $482.72 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MLM has been the topic of several research reports. UBS Group initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target on the stock. Loop Capital reduced their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Citigroup reduced their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. Finally, Morgan Stanley cut their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials 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.