33,923 Shares in Martin Marietta Materials, Inc. $MLM Purchased by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 33,923 shares of the construction company’s stock, valued at approximately $21,381,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quent Capital LLC bought a new stake in Martin Marietta Materials during the third quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Martin Marietta Materials in the second quarter worth approximately $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the third quarter valued at $32,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the third quarter valued at $33,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at $37,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $785.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. DA Davidson set a $680.00 price target on Martin Marietta Materials in a research report on Thursday, February 12th. Wells Fargo & Company dropped their price target on Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 12th. Truist Financial set a $710.00 price objective on Martin Marietta Materials in a report on Thursday, February 12th. Finally, Morgan Stanley reduced their price objective on shares of Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating for the company in a research note on Monday, March 9th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Hold” and an average price target of $696.88.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $568.06 on Thursday. The company’s fifty day moving average is $650.70 and its two-hundred day moving average is $631.85. The company has a market cap of $34.26 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.29 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $710.97. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $4.79 EPS. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.83 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.66%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.