Martin Marietta Materials, Inc. (NYSE:MLM) Short Interest Update

Martin Marietta Materials, Inc. (NYSE:MLM) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totalling 2,651,600 shares, a decline of 9.4% from the May 30th total of 2,927,100 shares. Based on an average daily trading volume, of 542,200 shares, the short-interest ratio is presently 4.9 days. Approximately 4.3% of the shares of the stock are short sold.

Shares of NYSE MLM traded up $1.50 during trading on Friday, reaching $226.50. The company had a trading volume of 386,487 shares, compared to its average volume of 417,770. Martin Marietta Materials has a 52 week low of $150.75 and a 52 week high of $232.81. The stock has a market cap of $14.08 billion, a PE ratio of 28.00, a PEG ratio of 2.20 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $223.00.

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

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, May 31st. Martin Marietta Materials’s dividend payout ratio is presently 23.73%.

In other Martin Marietta Materials news, Chairman C Howard Nye sold 14,668 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $220.48, for a total value of $3,234,000.64. Following the transaction, the chairman now directly owns 167,019 shares in the company, valued at $36,824,349.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Laree E. Perez sold 824 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $231.80, for a total transaction of $191,003.20. Following the completion of the transaction, the director now owns 14,136 shares in the company, valued at $3,276,724.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,675 shares of company stock worth $4,125,869. Company insiders own 0.73% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MLM. Shine Investment Advisory Services Inc. raised its stake in shares of Martin Marietta Materials by 191.8% during the first quarter. Shine Investment Advisory Services Inc. now owns 143 shares of the construction company’s stock worth $29,000 after buying an additional 94 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Martin Marietta Materials by 397.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 189 shares of the construction company’s stock worth $32,000 after buying an additional 151 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Martin Marietta Materials by 82.9% during the first quarter. Global Retirement Partners LLC now owns 192 shares of the construction company’s stock worth $39,000 after buying an additional 87 shares during the last quarter. Avestar Capital LLC raised its stake in shares of Martin Marietta Materials by 3,800.0% during the first quarter. Avestar Capital LLC now owns 234 shares of the construction company’s stock worth $46,000 after buying an additional 228 shares during the last quarter. Finally, Gemmer Asset Management LLC raised its stake in shares of Martin Marietta Materials by 69.0% during the first quarter. Gemmer Asset Management LLC now owns 245 shares of the construction company’s stock worth $49,000 after buying an additional 100 shares during the last quarter.

A number of equities analysts have commented on the stock. Bank of America lowered shares of Propetro from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. Citigroup boosted their target price 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. Goldman Sachs Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $207.00 to $232.00 in a research note on Thursday, April 11th. DA Davidson dropped their target price on shares of Cloudera to $9.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 3,620 ($47.30) target price on shares of Bellway in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. Martin Marietta Materials has an average rating of “Buy” and an average price target of $221.87.

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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