Martin Marietta Materials, Inc. (NYSE:MLM) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 2,273,700 shares, a decrease of 14.3% from the June 15th total of 2,651,600 shares. Currently, 3.7% of the company’s shares are short sold. Based on an average trading volume of 564,000 shares, the days-to-cover ratio is currently 4.0 days.

A number of analysts recently issued reports on the company. Goldman Sachs Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and increased their target price for the stock from $207.00 to $232.00 in a research note on Thursday, April 11th. Zacks Investment Research cut GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Berenberg Bank reissued a “buy” rating and set a GBX 3,620 ($47.30) target price on shares of Bellway in a research note on Wednesday, April 3rd. Bank of America cut shares of Propetro from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Finally, Citigroup raised their price target on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $218.94.

In related news, Director Laree E. Perez sold 824 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $231.80, for a total transaction of $191,003.20. Following the completion of the sale, the director now directly owns 14,136 shares of the company’s stock, valued at approximately $3,276,724.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman C Howard Nye sold 14,668 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $220.48, for a total value of $3,234,000.64. Following the sale, the chairman now directly owns 167,019 shares of the company’s stock, valued at $36,824,349.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,675 shares of company stock valued at $4,125,869. 0.73% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of MLM. Destination Wealth Management boosted its holdings in shares of Martin Marietta Materials by 825.0% in the 2nd quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock valued at $26,000 after buying an additional 99 shares during the last quarter. Shine Investment Advisory Services Inc. lifted its holdings in Martin Marietta Materials by 191.8% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 143 shares of the construction company’s stock valued at $29,000 after purchasing an additional 94 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at $31,000. Global Retirement Partners LLC lifted its holdings in Martin Marietta Materials by 82.9% during the 1st quarter. Global Retirement Partners LLC now owns 192 shares of the construction company’s stock valued at $39,000 after purchasing an additional 87 shares during the last quarter. Finally, Avestar Capital LLC lifted its holdings in Martin Marietta Materials by 3,800.0% during the 1st quarter. Avestar Capital LLC now owns 234 shares of the construction company’s stock valued at $46,000 after purchasing an additional 228 shares during the last quarter.

Shares of MLM traded up $1.94 during mid-day trading on Friday, hitting $223.82. 608,439 shares of the company’s stock were exchanged, compared to its average volume of 515,117. The firm has a market capitalization of $14.01 billion, a P/E ratio of 27.67, a PEG ratio of 2.20 and a beta of 1.14. Martin Marietta Materials has a 52 week low of $150.75 and a 52 week high of $232.81. The stock has a 50-day moving average of $226.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.81.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.39. The company had revenue of $938.96 million during the quarter, compared to analysts’ expectations of $881.82 million. Martin Marietta Materials had a net margin of 11.48% and a return on equity of 10.82%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS. On average, equities research analysts anticipate that Martin Marietta Materials will post 9.27 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.48 per share. The ex-dividend date was Friday, May 31st. This represents a $1.92 annualized dividend and a dividend yield of 0.86%. Martin Marietta Materials’s dividend payout ratio is currently 23.73%.

Martin Marietta Materials Company Profile

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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