Martin Marietta Materials Director Sells $523,470.00 in Stock (MLM)

Martin Marietta Materials (NYSE:MLM) Director David G. Maffucci sold 3,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $174.49, for a total transaction of $523,470.00. Following the sale, the director now directly owns 16,599 shares of the company’s stock, valued at $2,896,359.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MLM has been the topic of a number of analyst reports. Jefferies Group reiterated a “hold” rating and set a $138.00 target price (up previously from $136.00) on shares of Martin Marietta Materials in a research report on Saturday, May 9th. Susquehanna upgraded Martin Marietta Materials from a “neutral” rating to a “positive” rating in a report on Wednesday, May 13th. Zacks raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $162.00 target price for the company in a research note on Wednesday, June 17th. BB&T Corp. raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Friday, July 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $181.00 target price (up from $167.00) on shares of Martin Marietta Materials in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $154.50.
Shares of Martin Marietta Materials (NYSE:MLM) traded down 2.73% during trading on Wednesday, hitting $170.89. The stock had a trading volume of 460,054 shares. The stock has a 50-day moving average of $158.58 and a 200 day moving average of $146.75. Martin Marietta Materials has a 12-month low of $103.09 and a 12-month high of $177.59. The firm has a market cap of $11.45 billion and a price-to-earnings ratio of 56.40.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by $0.39. The firm earned $921.40 million during the quarter, compared to the consensus estimate of $924.16 million. During the same quarter in the previous year, the business posted $1.34 EPS. The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. On average, analysts predict that Martin Marietta Materials will post $4.92 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. The Company operates its business through segments, which include the Mideast Group, Southeast Group and West Group and the Cement and Specialty Products segment. The Specialty Products segment includes the magnesia-based chemicals and dolomitic lime businesses. The Company’s aggregates business also includes asphalt products, ready mixed concrete, and road paving operations. The Company also has a Specialty Products segment that manufactures and markets magnesia-based chemical products used in industrial, agricultural, and environmental applications and dolomitic lime sold primarily to customers in the steel industry.

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