Shares of Martin Marietta Materials, Inc. (NYSE:MLM) shot up 8.3% during mid-day trading on Tuesday . The company traded as high as $166.57 and last traded at $166.21. 2,607,600 shares traded hands during trading, an increase of 266% from the average session volume of 713,036 shares. The stock had previously closed at $153.43.
A number of research firms have recently issued reports on MLM. ValuEngine cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Citigroup decreased their price target on Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, July 30th. Nomura initiated coverage on Martin Marietta Materials in a research note on Monday. They issued a “buy” rating and a $220.00 price target on the stock. Stephens set a $187.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a research note on Wednesday, October 17th. Finally, Bank of America decreased their price target on Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Martin Marietta Materials currently has a consensus rating of “Buy” and an average price target of $221.67.
The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 0.60. The company has a market cap of $9.88 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08.
In related news, SVP Donald A. Mccunniff sold 2,250 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total value of $459,742.50. Following the sale, the senior vice president now owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.75% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of MLM. Suntrust Banks Inc. boosted its stake in Martin Marietta Materials by 55.8% in the first quarter. Suntrust Banks Inc. now owns 4,023 shares of the construction company’s stock worth $832,000 after purchasing an additional 1,441 shares in the last quarter. Bright Rock Capital Management LLC acquired a new position in Martin Marietta Materials in the second quarter worth $8,040,000. Rockland Trust Co. acquired a new position in Martin Marietta Materials in the second quarter worth $15,196,000. IFM Investors Pty Ltd boosted its stake in Martin Marietta Materials by 82.4% in the second quarter. IFM Investors Pty Ltd now owns 2,660 shares of the construction company’s stock worth $594,000 after purchasing an additional 1,202 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Martin Marietta Materials by 125.1% in the second quarter. Handelsbanken Fonder AB now owns 35,000 shares of the construction company’s stock worth $7,817,000 after purchasing an additional 19,450 shares in the last quarter.
About Martin Marietta Materials (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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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.
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