Cibc World Market Inc. Has $12.14 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Cibc World Market Inc. increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 5,157.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,499 shares of the construction company's stock after buying an additional 23,052 shares during the quarter. Cibc World Market Inc.'s holdings in Martin Marietta Materials were worth $12,137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. boosted its stake in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock worth $25,000 after acquiring an additional 37 shares in the last quarter. Asset Dedication LLC increased its holdings in Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. First Personal Financial Services acquired a new position in shares of Martin Marietta Materials in the third quarter worth $33,000. Retirement Wealth Solutions LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth $41,000. Finally, R Squared Ltd purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MLM. StockNews.com cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Wednesday, January 29th. Loop Capital upped their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a "buy" rating in a report on Thursday, October 31st. BNP Paribas downgraded shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Barclays increased their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Finally, Raymond James lowered their price target on shares of Martin Marietta Materials from $640.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, January 16th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and an average price target of $648.71.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM traded up $2.11 during trading on Wednesday, reaching $539.41. The stock had a trading volume of 463,768 shares, compared to its average volume of 365,168. The stock has a fifty day simple moving average of $542.75 and a two-hundred day simple moving average of $550.50. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 4.60 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52 week low of $490.05 and a 52 week high of $633.23.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Monday, December 2nd. Martin Marietta Materials's dividend payout ratio is 9.85%.

Martin Marietta Materials Company 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.