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

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

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded down $1.03 on Tuesday, reaching $487.70. 602,366 shares of the stock were exchanged, compared to its average volume of 457,909. The firm’s 50 day moving average is $513.08 and its 200-day moving average is $540.31. Martin Marietta Materials has a one year low of $448.50 and a one year 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 firm has a market cap of $29.74 billion, a PE ratio of 15.09, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released 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, analysts anticipate that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is 9.77%.

Analysts Set New Price Targets

MLM has been the subject of several research analyst reports. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Stifel Nicolaus started coverage on shares of Martin Marietta Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price objective for the company. Stephens cut their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a report on Wednesday, January 8th. Finally, Loop Capital cut their price objective on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $634.36.

Insider Buying and Selling

In related news, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares of the company’s stock, valued at $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 currently owned by insiders.

Hedge Funds Weigh In On Martin Marietta Materials

A number of institutional investors have recently added to or reduced their stakes in the stock. 111 Capital acquired a new position in Martin Marietta Materials during the 4th quarter worth approximately $221,000. Wealth Enhancement Advisory Services LLC increased its position in Martin Marietta Materials by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,654 shares of the construction company’s stock worth $1,887,000 after purchasing an additional 227 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in Martin Marietta Materials by 1.0% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 28,559 shares of the construction company’s stock worth $14,751,000 after purchasing an additional 271 shares in the last quarter. Siemens Fonds Invest GmbH increased its position in Martin Marietta Materials by 14.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 1,508 shares of the construction company’s stock worth $785,000 after purchasing an additional 195 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Martin Marietta Materials during the 4th quarter worth approximately $13,501,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

About Martin Marietta Materials

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.