Martin Marietta Materials (MLM) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 193 from a previous price target of $181 . Stifel advised their investors in a research report released on May 9, 2016.
On the company’s financial health, Martin Marietta Materials reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.40. The company had revenue of $734.00 million for the quarter, compared to analysts expectations of $719.40 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.
Martin Marietta Materials opened for trading at $174.96 and hit $178.42 on the upside on Friday, eventually ending the session at $177.91, with a gain of 1.66% or 2.91 points. The heightened volatility saw the trading volume jump to 16,48,327 shares. Company has a market cap of $11,302 M.
In a different news, on Mar 9, 2016, Stephen P Jr Zelnak (director) sold 10,000 shares at $153.66 per share price. According to the SEC, on Mar 4, 2016, William E Mcdonald (director) sold 3,000 shares at $148.04 per share price. On Mar 2, 2016, Laree E Perez (director) sold 3,000 shares at $143.35 per share price, according to the Form-4 filing with the securities and exchange commission.
Martin Marietta Materials Inc. is a supplier of aggregates products (crushed stone sand and gravel) and heavy building materials (cement) for the construction industry including infrastructure non-residential residential railroad ballast agricultural and chemical grade stone used in environmental applications. The Company operates through three businesses: Aggregates Business Cement Business and Magnesia Specialties Business. The Companys Aggregates Business is engaged in mining processing and selling granite limestone sand gravel and other aggregate products. The Companys Cement Business is engaged in producing Portland and specialty cements such as masonry and oil well cements. The Companys Magnesia Specialties Business includes magnesia-based chemicals and dolomitic lime businesses.