Martin Marietta Materials (MLM) Shares Up 8.3%

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.



Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, July 26th. The construction company reported $3.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.45. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. Martin Marietta Materials’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.27 EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post 8.74 earnings per share for the current year.

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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