Martin Marietta Materials, Inc. (NYSE:MLM) Short Interest Up 19.7% in February

Martin Marietta Materials, Inc. (NYSE:MLM) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 1,640,000 shares, an increase of 19.7% from the February 13th total of 1,370,000 shares. Based on an average daily volume of 505,000 shares, the short-interest ratio is presently 3.2 days. Currently, 2.7% of the shares of the stock are sold short.

Martin Marietta Materials Stock Up 0.6 %

Shares of NYSE MLM traded up $2.73 during mid-day trading on Wednesday, reaching $490.92. The company had a trading volume of 528,923 shares, compared to its average volume of 458,509. Martin Marietta Materials has a twelve month low of $448.50 and a twelve month high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The stock has a market capitalization of $29.93 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The stock’s 50 day moving average is $513.08 and its 200-day moving average is $540.31.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, equities analysts anticipate that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

Analyst Ratings Changes

Several research analysts have issued reports on MLM shares. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Morgan Stanley dropped their price target on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Barclays dropped their price target on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup cut their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $628.64.

Insider Buying and Selling

In other news, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Martin Marietta Materials

A number of large investors have recently bought and sold shares of the business. 111 Capital bought a new stake in Martin Marietta Materials in the fourth quarter worth $221,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Martin Marietta Materials by 6.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,654 shares of the construction company’s stock valued at $1,887,000 after acquiring an additional 227 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in Martin Marietta Materials by 1.0% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 28,559 shares of the construction company’s stock valued at $14,751,000 after acquiring an additional 271 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in Martin Marietta Materials by 14.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 1,508 shares of the construction company’s stock valued at $785,000 after acquiring an additional 195 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Martin Marietta Materials during the fourth quarter valued at about $13,501,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and 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.