Market Runner: A Reversal for Martin Marietta Materials, Inc. Is Not Near. The Stock Gaps Up

Market Runner: A Reversal for Martin Marietta Materials, Inc. Is Not Near. The Stock Gaps Up

The stock of Martin Marietta Materials, Inc. (NYSE:MLM) gapped up by $11.44 today and has $333.58 target or 48.00% above today’s $225.39 share price. The 6 months technical chart setup indicates low risk for the $14.57 billion company. The gap was reported on Nov, 10 by Barchart.com. If the $333.58 price target is reached, the company will be worth $6.99B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 11.57% or $23.38 during the last trading session, hitting $225.39. About 3.89 million shares traded hands or 363.42% up from the average. Martin Marietta Materials, Inc. (NYSE:MLM) has risen 24.73% since April 7, 2016 and is uptrending. It has outperformed by 19.95% the S&P500.

Martin Marietta Materials, Inc. (NYSE:MLM) Ratings Coverage

Out of 7 analysts covering Martin Marietta (NYSE:MLM), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Martin Marietta has been the topic of 10 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Goldman Sachs on Wednesday, June 8. As per Tuesday, October 11, the company rating was downgraded by Goldman Sachs. The stock of Martin Marietta Materials, Inc. (NYSE:MLM) has “Buy” rating given on Friday, October 2 by Longbow. SunTrust upgraded Martin Marietta Materials, Inc. (NYSE:MLM) on Wednesday, October 26 to “Buy” rating. The stock of Martin Marietta Materials, Inc. (NYSE:MLM) earned “Buy” rating by Stifel Nicolaus on Wednesday, August 5. The rating was upgraded by Suntrust Robinson on Wednesday, October 26 to “Buy”. The firm earned “Overweight” rating on Thursday, June 9 by Alembic. Bank of America maintained the shares of MLM in a report on Thursday, August 6 with “Buy” rating.

According to Zacks Investment Research, “Martin Marietta Materials producer of aggregates for the construction industry, including highways, infrastructure, commercial and residential. The company also manufactures and markets magnesia-based products, including heat-resistant refractory products for the steel industry, chemicals products for industrial, agricultural and environmental uses, and dolomitic lime.”

Insitutional Activity: The institutional sentiment increased to 1.12 in 2016 Q2. Its up 0.08, from 1.04 in 2016Q1. The ratio improved, as 35 funds sold all Martin Marietta Materials, Inc. shares owned while 144 reduced positions. 69 funds bought stakes while 132 increased positions. They now own 60.78 million shares or 9.44% less from 67.12 million shares in 2016Q1.
Tower Lc (Trc) has 415 shares for 0.01% of their US portfolio. Capstone Ltd Llc owns 5,002 shares or 0.02% of their US portfolio. Moreover, Benjamin F Edwards & Company Inc has 0.01% invested in Martin Marietta Materials, Inc. (NYSE:MLM) for 388 shares. Kbc Nv holds 0.02% or 7,061 shares in its portfolio. Seven Eight Limited Liability Company accumulated 1,499 shares or 0.1% of the stock. Oppenheimer & owns 13,552 shares or 0.08% of their US portfolio. Confluence Inv Mgmt Lc, a Missouri-based fund reported 292,816 shares. Greenwood Cap Associates Ltd Company owns 2,799 shares or 0.17% of their US portfolio. Commonwealth National Bank & Trust Of Australia has 0% invested in the company for 341 shares. The New York-based Mutual Of America Capital Mngmt Ltd Limited Liability Company has invested 0.03% in Martin Marietta Materials, Inc. (NYSE:MLM). Moreover, Zacks Invest Mgmt has 0.24% invested in Martin Marietta Materials, Inc. (NYSE:MLM) for 41,456 shares. The New York-based Jpmorgan Chase And Commerce has invested 0.11% in Martin Marietta Materials, Inc. (NYSE:MLM). Ubs Oconnor Ltd Llc has invested 0% of its portfolio in Martin Marietta Materials, Inc. (NYSE:MLM). British Columbia Invest Mgmt Corp accumulated 39,105 shares or 0.07% of the stock. Bb&T Corporation accumulated 1,348 shares or 0.01% of the stock.

Insider Transactions: Since May 10, 2016, the stock had 0 insider purchases, and 6 insider sales for $8.01 million net activity. $1.38 million worth of Martin Marietta Materials, Inc. (NYSE:MLM) was sold by BAR ROSELYN R. $562,308 worth of Martin Marietta Materials, Inc. (NYSE:MLM) was sold by COLE SUE W. $1.36 million worth of Martin Marietta Materials, Inc. (NYSE:MLM) shares were sold by MAFFUCCI DAVID G. $566,700 worth of Martin Marietta Materials, Inc. (NYSE:MLM) was sold by ZELNAK STEPHEN P JR on Wednesday, June 8. Guzzo Dana F. sold $164,936 worth of stock or 879 shares. LLOYD ANNE H sold 9,031 shares worth $1.69M. Nye C Howard had sold 13,359 shares worth $2.50 million on Thursday, May 12.

More important recent Martin Marietta Materials, Inc. (NYSE:MLM) news were published by: Businesswire.com which released: “Martin Marietta Delivers Record Third-Quarter Performance” on November 01, 2016, also Bloomberg.com published article titled: “Martin Marietta Rises Most in Year on Materials Forecast”, Barrons.com published: “Martin Marietta Materials Shares Have 35% Upside” on March 05, 2016. More interesting news about Martin Marietta Materials, Inc. (NYSE:MLM) was released by: Forbes.com and their article: “Ex-Dividend Reminder: Martin Marietta Materials, Compass Minerals …” with publication date: May 25, 2016.

MLM Company Profile

Martin Marietta Materials, Inc., incorporated on November 12, 1993, is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Firm operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business. The Firm conducts its Aggregates business through three divisions: the Mid-America Group, Southeast Group, and West Group. The Company’s Cement business operates through the Cement segment. The Company’s Magnesia Specialties segment includes its magnesia chemicals and dolomitic lime businesses. The Company’s Aggregates Business is engaged in mining, processing and selling granite, limestone, sand, gravel and other aggregate products. The Company’s Cement business is engaged in producing Portland and specialty cements. In addition, aggregates products are used for railroad ballast and in agricultural, utility and environmental applications.

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