According to Zacks, “Martin Marietta is a leading supplier of construction aggregates in the U.S. Shares of Martin Marietta outperformed the Zacks categorized Building Products – Concrete and Aggregates industry in the last one year. The company is encouraged by the positive trends in the markets it serves and its ability to execute strategic business plans. However, Martin Marietta’s growth prospects are getting hurt by abnormally wet weather conditions and project delays in Texas. Despite improving economic conditions, cost management and enhanced operational efficiency, the company has been facing constrained construction activity in its markets.”
Zacks Investment Research upgraded shares of Martin Marietta Materials, Inc. (NYSE:MLM) from a sell rating to a hold rating in a research note released on Tuesday, April 18th.
MLM has been the topic of several other research reports. Cleveland Research raised shares of Martin Marietta Materials from a neutral rating to a buy rating in a research report on Friday, March 31st. Citigroup Inc assumed coverage on shares of Martin Marietta Materials in a research report on Wednesday, March 29th. They issued a buy rating and a $245.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Martin Marietta Materials presently has a consensus rating of Hold and a consensus target price of $221.22. Martin Marietta Materials (NYSE:MLM) opened at 234.29 on Tuesday. The company has a market capitalization of $14.71 billion, a PE ratio of 35.35 and a beta of 1.41. The firm has a 50-day moving average of $217.85 and a 200 day moving average of $217.24. Martin Marietta Materials has a 12-month low of $167.06 and a 12-month high of $244.32.
In related news, CFO Anne H. Lloyd sold 6,472 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $238.73, for a total transaction of $1,545,060.56. Following the completion of the transaction, the chief financial officer now owns 69,941 shares of the company’s stock, valued at $16,697,014.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sue W. Cole sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $212.12, for a total transaction of $636,360.00. Following the transaction, the director now directly owns 23,069 shares of the company’s stock, valued at approximately $4,893,396.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,121 shares of company stock valued at $5,625,740. 1.06% of the stock is owned by corporate insiders. A number of institutional investors have recently added to or reduced their stakes in MLM. FMR LLC boosted its position in Martin Marietta Materials by 26.7% in the fourth quarter. FMR LLC now owns 3,025,391 shares of the construction company’s stock worth $670,215,000 after buying an additional 637,966 shares in the last quarter. State Street Corp boosted its position in Martin Marietta Materials by 5.6% in the fourth quarter. State Street Corp now owns 2,700,675 shares of the construction company’s stock worth $598,278,000 after buying an additional 144,349 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Martin Marietta Materials by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,617,425 shares of the construction company’s stock worth $289,697,000 after buying an additional 12,992 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Martin Marietta Materials by 3.8% in the third quarter. First Eagle Investment Management LLC now owns 1,446,940 shares of the construction company’s stock worth $259,162,000 after buying an additional 53,431 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in Martin Marietta Materials by 3.1% in the third quarter. BlackRock Fund Advisors now owns 1,086,662 shares of the construction company’s stock worth $194,632,000 after buying an additional 32,621 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.
About Martin Marietta Materials Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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