CIBC Asset Management Inc Sells 460 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

CIBC Asset Management Inc reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.6% in the 4th quarter, Holdings Channel.com reports. The fund 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 SEC filing.

Other hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its holdings in Martin Marietta Materials by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after purchasing an additional 19 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock valued at $307,000 after purchasing an additional 20 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Martin Marietta Materials by 4.7% during the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after purchasing an additional 20 shares during the last quarter. Financial Counselors Inc. lifted its holdings in Martin Marietta Materials by 1.9% during the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after purchasing an additional 21 shares during the last quarter. Finally, OLD National Bancorp IN lifted its holdings in Martin Marietta Materials by 4.5% during the 4th quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock valued at $249,000 after purchasing an additional 21 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Up 1.3 %

MLM stock opened at $534.34 on Wednesday. The company has a market cap of $32.66 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. The business has a 50-day simple moving average of $533.74 and a 200 day simple moving average of $548.21. Martin Marietta Materials, Inc. has a 52 week low of $482.72 and a 52 week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

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

Analysts Set New Price Targets

Several brokerages have issued reports on MLM. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their price target for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Citigroup dropped their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Loop Capital dropped their target price on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a report on Thursday, February 13th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a report on Wednesday, December 11th. Finally, StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.43.

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.