The stock of Martin Marietta Materials, Inc. (NYSE:MLM) hit a new 52-week high and has $299.10 target or 37.00% above today’s $218.32 share price. The 6 months bullish chart indicates low risk for the $14.12B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $299.10 price target is reached, the company will be worth $5.22B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.70 million shares traded hands or 102.52% 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 firm has “Buy” rating given on Wednesday, June 8 by Goldman Sachs. The stock of Martin Marietta Materials, Inc. (NYSE:MLM) earned “Buy” rating by SunTrust on Wednesday, October 26. The rating was upgraded by Suntrust Robinson to “Buy” on Wednesday, October 26. On Thursday, August 6 the stock rating was maintained by Bank of America with “Buy”. The firm earned “Neutral” rating on Tuesday, October 11 by Goldman Sachs. The stock of Martin Marietta Materials, Inc. (NYSE:MLM) has “Buy” rating given on Wednesday, August 5 by Stifel Nicolaus. Alembic initiated it with “Overweight” rating and $220 target price in Thursday, June 9 report. The stock of Martin Marietta Materials, Inc. (NYSE:MLM) earned “Buy” rating by Longbow on Friday, October 2.
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 Q2 2016. Its up 0.08, from 1.04 in 2016Q1. The ratio increased, 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.
Exane Derivatives holds 0% or 64,941 shares in its portfolio. Moreover, Zweig has 0.51% invested in Martin Marietta Materials, Inc. (NYSE:MLM) for 26,240 shares. First Citizens National Bank & Trust And Tru Com owns 7,769 shares or 0.13% of their US portfolio. Catalyst Capital Advsr Ltd Limited Liability Company accumulated 22,200 shares or 0.79% of the stock. Goldman Sachs Group Inc, a New York-based fund reported 921,605 shares. Comerica Bank owns 20,070 shares or 0.03% of their US portfolio. Ubs Asset Management Americas, a Illinois-based fund reported 172,713 shares. Cubist Systematic Strategies Limited holds 0.03% or 2,838 shares in its portfolio. Ameriprise accumulated 112,361 shares or 0.01% of the stock. Foundation Asset Mngmt Ltd Partnership accumulated 6.92% or 108,311 shares. Heritage last reported 1.14% of its portfolio in the stock. Ls Advisors Limited Liability Company accumulated 0.03% or 2,186 shares. Cibc Asset Management Incorporated holds 0.02% or 10,819 shares in its portfolio. Brc Investment Mgmt Limited, a Colorado-based fund reported 40,526 shares. Dynamic Capital Mngmt Limited accumulated 10,282 shares or 0.23% of the stock.
Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 6 insider sales for $8.01 million net activity. BAR ROSELYN R sold 5,830 shares worth $1.17 million. Shares for $562,308 were sold by COLE SUE W on Thursday, May 12. Shares for $1.69 million were sold by LLOYD ANNE H. $566,700 worth of Martin Marietta Materials, Inc. (NYSE:MLM) was sold by ZELNAK STEPHEN P JR. $1.36 million worth of shares were sold by MAFFUCCI DAVID G on Wednesday, August 10. Shares for $164,936 were sold by Guzzo Dana F.. $2.50M worth of shares were sold by Nye C Howard on Thursday, May 12.
More recent Martin Marietta Materials, Inc. (NYSE:MLM) news were published by: Bloomberg.com which released: “Martin Marietta Rises Most in Year on Materials Forecast” on February 09, 2016. Also Barrons.com published the news titled: “Martin Marietta Materials Shares Have 35% Upside” on March 05, 2016. Forbes.com‘s news article titled: “Ex-Dividend Reminder: Martin Marietta Materials, Compass Minerals …” with publication date: May 25, 2016 was also an interesting one.
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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