Martin Marietta Materials Inc. Sets New 12-Month High at $116.07 (MLM)
Martin Marietta Materials (NYSE:MLM)’s share price hit a new 52-week high during mid-day trading on Monday , ARN reports. The stock traded as high as $116.07 and last traded at $114.24, with a volume of 982,906 shares traded. The stock had previously closed at $112.54.
A number of research firms have recently commented on MLM. Analysts at Stifel Nicolaus upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, January 28th. They now have a $125.00 price target on the stock. Analysts at Ned Davis Research downgraded shares of Martin Marietta Materials from a “neutral” rating to a “sell” rating in a research note to investors on Monday, January 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $115.01.
The stock’s 50-day moving average is $104.1 and its 200-day moving average is $99.70. The company has a market cap of $5.268 billion and a price-to-earnings ratio of 43.07.
Martin Marietta Materials (NYSE:MLM) last released its earnings data on Tuesday, January 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $491.40 million for the quarter, compared to the consensus estimate of $534.18 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials will post $3.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, February 27th.
In other Martin Marietta Materials news, Director David Maffucci unloaded 3,000 shares of Martin Marietta Materials stock on the open market in a transaction dated Thursday, February 6th. The shares were sold at an average price of $112.18, for a total transaction of $336,540.00. Following the completion of the transaction, the director now directly owns 14,812 shares of the company’s stock, valued at approximately $1,661,610. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Martin Marietta Materials, Inc is the producer of aggregates products (NYSE:MLM) for the construction industry, including infrastructure, nonresidential, residential, railroad ballast, agricultural, and chemical grade stone used in environmental applications.
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