Notable Runner: Could Martin Marietta Materials, Inc. See a Reversal After Breaking All Highs?

Notable Runner: Could Martin Marietta Materials, Inc. See a Reversal After Breaking All Highs?

The stock of Martin Marietta Materials, Inc. (NYSE:MLM) reached all time high today, Nov, 10 and still has $274.85 target or 20.00% above today’s $229.04 share price. This indicates more upside for the $16.22B company. This technical setup was reported by Barchart.com. If the $274.85 PT is reached, the company will be worth $3.24B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 513,612 shares traded hands. Martin Marietta Materials, Inc. (NYSE:MLM) has risen 35.63% since April 8, 2016 and is uptrending. It has outperformed by 29.98% 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. Bank of America maintained the stock with “Buy” rating in Thursday, August 6 report. The rating was maintained by Goldman Sachs with “Buy” on Wednesday, June 8. The rating was upgraded by SunTrust on Wednesday, October 26 to “Buy”. The rating was initiated by Alembic on Thursday, June 9 with “Overweight”. The stock of Martin Marietta Materials, Inc. (NYSE:MLM) has “Neutral” rating given on Tuesday, October 11 by Goldman Sachs. The firm has “Buy” rating by Suntrust Robinson given on Wednesday, October 26. The firm has “Buy” rating given on Wednesday, August 5 by Stifel Nicolaus. The rating was upgraded by Longbow on Friday, October 2 to “Buy”.

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 is positive, 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.
Delta Lloyd Nv accumulated 4,125 shares or 0.03% of the stock. Ladenburg Thalmann Financial holds 2,064 shares or 0.01% of its portfolio. Moreover, Exane Derivatives has 0% invested in Martin Marietta Materials, Inc. (NYSE:MLM) for 64,941 shares. The Georgia-based Advisory Serv Network Ltd Liability Com has invested 0.17% in Martin Marietta Materials, Inc. (NYSE:MLM). Twin Tree Mgmt Limited Partnership holds 0.05% of its portfolio in Martin Marietta Materials, Inc. (NYSE:MLM) for 16,327 shares. M&T Retail Bank accumulated 9,918 shares or 0.01% of the stock. Dekabank Deutsche Girozentrale holds 3,442 shares or 0.01% of its portfolio. Hallmark Cap Mngmt Inc holds 0.12% or 3,964 shares in its portfolio. Sg Americas Limited Liability Corp last reported 0.01% of its portfolio in the stock. Qs Invsts Limited Company holds 2,347 shares or 0% of its portfolio. Moreover, Princeton Cap Management has 3.74% invested in Martin Marietta Materials, Inc. (NYSE:MLM) for 28,236 shares. First Personal Financial Svcs, a North Carolina-based fund reported 209 shares. Daiwa Secs Gru has invested 0% of its portfolio in Martin Marietta Materials, Inc. (NYSE:MLM). Laurion Ltd Partnership has invested 0.01% of its portfolio in Martin Marietta Materials, Inc. (NYSE:MLM). First Advsrs Lp, a Illinois-based fund reported 113,759 shares.

Insider Transactions: Since May 11, 2016, the stock had 0 insider purchases, and 6 insider sales for $8.01 million net activity. 3,000 shares were sold by ZELNAK STEPHEN P JR, worth $566,700 on Wednesday, June 8. The insider LLOYD ANNE H sold $1.69 million. Guzzo Dana F. sold 213 shares worth $40,300. MAFFUCCI DAVID G had sold 6,779 shares worth $1.36 million. Another trade for 3,000 shares valued at $562,308 was sold by COLE SUE W. $2.50M worth of Martin Marietta Materials, Inc. (NYSE:MLM) was sold by Nye C Howard on Thursday, May 12. Shares for $1.38M were sold by BAR ROSELYN R on Wednesday, May 11.

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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