Martin Marietta Materials Sees Large Growth in Short Interest (MLM)
Martin Marietta Materials (NYSE:MLM) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 9,139,874 shares, a growth of 35.5% from the March 31st total of 6,743,994 shares, AnalystRatings.Net reports. Approximately 19.9% of the company’s stock are sold short. Based on an average daily volume of 1,187,672 shares, the days-to-cover ratio is presently 7.7 days.
In other Martin Marietta Materials news, Director Sue W. Cole unloaded 3,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $126.20, for a total value of $378,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on MLM. Analysts at DA Davidson raised their price target on shares of Martin Marietta Materials from $120.00 to $125.00 in a research note on Wednesday, April 30th. Separately, analysts at Jefferies Group initiated coverage on shares of Martin Marietta Materials in a research note on Monday, April 28th. They set a “hold” rating and a $128.00 price target on the stock. Finally, analysts at CJS Securities upgraded shares of Martin Marietta Materials to an “outperform” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $118.02.
Shares of Martin Marietta Materials (NYSE:MLM) opened at 122.43 on Thursday. Martin Marietta Materials has a 1-year low of $94.01 and a 1-year high of $130.00. The stock’s 50-day moving average is $125.4 and its 200-day moving average is $110.9. The company has a market cap of $5.668 billion and a P/E ratio of 45.26.
Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, April 29th. The company reported ($0.35) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.34) by $0.01. The company had revenue of $379.70 million for the quarter, compared to the consensus estimate of $409.45 million. During the same quarter last year, the company posted ($0.61) earnings per share. Martin Marietta Materials’s revenue was up 11.7% compared to the same quarter last year. On average, analysts predict that Martin Marietta Materials will post $3.81 earnings per share for the current fiscal year.
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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