BNP Paribas began coverage on shares of Martin Marietta Materials (NYSE:MLM) in a research report issued on Wednesday, Briefing.com Automated Import reports. The firm set an “underperform” rating on the construction company’s stock.
A number of other equities research analysts have also commented on MLM. Jefferies Financial Group raised their price objective on Martin Marietta Materials from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. ValuEngine lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Longbow Research set a $265.00 price objective on Martin Marietta Materials and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised their price objective on Martin Marietta Materials from $265.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $231.86.
Shares of NYSE:MLM traded up $2.50 during midday trading on Wednesday, reaching $265.45. The company had a trading volume of 224,074 shares, compared to its average volume of 616,612. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.08 and a current ratio of 1.86. Martin Marietta Materials has a 1-year low of $150.75 and a 1-year high of $275.99. The firm has a market cap of $16.35 billion, a price-to-earnings ratio of 32.81, a price-to-earnings-growth ratio of 2.44 and a beta of 1.11. The company has a fifty day simple moving average of $260.96 and a two-hundred day simple moving average of $231.31.
In other news, EVP Roselyn R. Bar sold 2,821 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $246.93, for a total transaction of $696,589.53. Following the completion of the sale, the executive vice president now directly owns 57,149 shares of the company’s stock, valued at approximately $14,111,802.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Howard Nye sold 7,440 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $253.52, for a total value of $1,886,188.80. Following the sale, the chief executive officer now directly owns 154,544 shares of the company’s stock, valued at $39,179,994.88. The disclosure for this sale can be found here. Insiders have sold a total of 21,485 shares of company stock valued at $5,317,618 over the last 90 days. Corporate insiders own 0.73% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Meridian Wealth Management LLC purchased a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $64,000. Bank of New York Mellon Corp raised its stake in shares of Martin Marietta Materials by 10.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,151,362 shares of the construction company’s stock worth $264,939,000 after purchasing an additional 105,241 shares in the last quarter. Northern Trust Corp raised its stake in shares of Martin Marietta Materials by 1.6% during the 1st quarter. Northern Trust Corp now owns 714,199 shares of the construction company’s stock worth $143,684,000 after purchasing an additional 10,945 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Martin Marietta Materials during the 2nd quarter worth about $41,050,000. Finally, Advisory Services Network LLC raised its stake in shares of Martin Marietta Materials by 68.1% during the 1st quarter. Advisory Services Network LLC now owns 6,681 shares of the construction company’s stock worth $1,344,000 after purchasing an additional 2,706 shares in the last quarter.
About Martin Marietta Materials
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.
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