Martin Marietta Materials (NYSE:MLM) Hits New 1-Year High at $241.65

Martin Marietta Materials, Inc. (NYSE:MLM)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $241.65 and last traded at $237.98, with a volume of 30990 shares. The stock had previously closed at $223.99.

A number of research firms recently issued reports on MLM. Zacks Investment Research lowered GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Bank of America lowered Propetro from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. DA Davidson lowered their target price on Cloudera to $9.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Citigroup lifted their target price on Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Goldman Sachs Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $207.00 to $232.00 in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $218.94.

The stock has a 50 day moving average price of $225.76. The company has a market capitalization of $14.02 billion, a PE ratio of 29.93, a PEG ratio of 2.20 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 0.65.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.39. The firm had revenue of $938.96 million for the quarter, compared to analysts’ expectations of $881.82 million. Martin Marietta Materials had a return on equity of 10.82% and a net margin of 11.48%. Martin Marietta Materials’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. On average, analysts expect that Martin Marietta Materials, Inc. will post 9.27 earnings per share for the current fiscal year.

In other Martin Marietta Materials news, Chairman C Howard Nye sold 14,668 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $220.48, for a total transaction of $3,234,000.64. Following the completion of the sale, the chairman now directly owns 167,019 shares in the company, valued at approximately $36,824,349.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald A. Mccunniff sold 3,183 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $220.19, for a total value of $700,864.77. Following the sale, the senior vice president now owns 16,724 shares of the company’s stock, valued at $3,682,457.56. The disclosure for this sale can be found here. Insiders sold a total of 18,675 shares of company stock worth $4,125,869 in the last three months. 0.73% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MLM. Great Lakes Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $4,508,000. Meridian Wealth Management LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $64,000. Northern Trust Corp lifted its holdings in shares of Martin Marietta Materials by 1.6% during the 1st quarter. Northern Trust Corp now owns 714,199 shares of the construction company’s stock valued at $143,684,000 after buying an additional 10,945 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of Martin Marietta Materials by 68.1% during the 1st quarter. Advisory Services Network LLC now owns 6,681 shares of the construction company’s stock valued at $1,344,000 after buying an additional 2,706 shares during the last quarter. Finally, Fosun International Ltd acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $210,000.

Martin Marietta Materials Company Profile (NYSE:MLM)

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.

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