Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 297.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 33,122 shares of the construction company's stock after acquiring an additional 24,798 shares during the period. Cibc World Markets Corp owned about 0.05% of Martin Marietta Materials worth $17,108,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Franklin Street Advisors Inc. NC lifted its position in shares of Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company's stock worth $13,037,000 after purchasing an additional 3,384 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Martin Marietta Materials by 18.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company's stock worth $4,914,000 after buying an additional 1,286 shares during the period. RMR Wealth Builders lifted its holdings in Martin Marietta Materials by 431.3% during the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company's stock valued at $1,235,000 after buying an additional 1,941 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Martin Marietta Materials by 2,448.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company's stock valued at $741,000 after buying an additional 1,322 shares during the period. Finally, InTrack Investment Management Inc boosted its position in Martin Marietta Materials by 33.9% in the 4th quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company's stock valued at $1,784,000 after buying an additional 872 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

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Martin Marietta Materials Stock Performance

MLM stock traded down $6.29 during trading on Friday, reaching $477.49. The company had a trading volume of 857,512 shares, compared to its average volume of 570,591. The company has a market cap of $29.11 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a twelve month low of $448.50 and a twelve month high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a 50-day simple moving average of $511.89 and a 200-day simple moving average of $539.58.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating analysts' consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is 9.77%.

Analyst Ratings Changes

Several research analysts have commented on MLM shares. JPMorgan Chase & Co. downgraded Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $640.00 to $560.00 in a report on Wednesday. Citigroup lowered their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, January 6th. HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective on the stock in a report on Wednesday, December 11th. Wolfe Research raised Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 target price on the stock in a research report on Wednesday, January 8th. Finally, Stephens reduced their price target on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average price target of $628.64.

Insider Buying and Selling

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael J. Petro purchased 550 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares of the company's stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company's stock.

About Martin Marietta Materials

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.