CIBC Private Wealth Group LLC Sells 12,542 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

CIBC Private Wealth Group LLC trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473,612 shares of the construction company’s stock after selling 12,542 shares during the quarter. CIBC Private Wealth Group LLC owned 0.77% of Martin Marietta Materials worth $244,976,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after buying an additional 704,460 shares during the period. Larson Financial Group LLC bought a new position in Martin Marietta Materials in the third quarter valued at about $49,000. Bank of Montreal Can raised its stake in Martin Marietta Materials by 3.2% during the third quarter. Bank of Montreal Can now owns 52,647 shares of the construction company’s stock worth $28,383,000 after acquiring an additional 1,622 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Martin Marietta Materials in the third quarter worth about $611,000. Finally, Townsquare Capital LLC boosted its stake in shares of Martin Marietta Materials by 16.3% in the 3rd quarter. Townsquare Capital LLC now owns 3,650 shares of the construction company’s stock valued at $1,965,000 after purchasing an additional 511 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $477.92 on Friday. The firm has a market capitalization of $29.14 billion, a P/E ratio of 14.78, a P/E/G ratio of 4.45 and a beta of 0.89. The firm’s 50-day moving average price is $507.03 and its 200-day moving average price is $538.56. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1-year low of $448.50 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Wall Street Analyst Weigh In

MLM has been the topic of a number of research reports. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research note on Wednesday, December 11th. Loop Capital cut their price target on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. Stephens reduced their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $628.64.

Insider Activity

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

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.