Martin Marietta Materials, Inc. (NYSE:MLM) Short Interest Down 14.3% in July
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.
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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