Martin Marietta Materials (MLM) is Initiated by Alembic Global Advisors to Overweight, Price Target at $220

Martin Marietta Materials (MLM) was Initiated by Alembic Global Advisors to “Overweight” and the brokerage firm has set the Price Target at $220. Alembic Global Advisors advised their investors in a research report released on Jun 9, 2016.

Many Wall Street Analysts have commented on Martin Marietta Materials. Company shares were Reiterated by Stifel on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 193 from a previous price target of $181 .

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 closed down -0.07 points or -0.04% at $187.06 with 5,25,806 shares getting traded on Tuesday. Post opening the session at $186.99, the shares hit an intraday low of $185.84 and an intraday high of $188.27 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 1, 2016, Stephen P Jr Zelnak (director) sold 17,000 shares at $187.75 per share price. According to the SEC, on May 25, 2016, Dana F. Guzzo (SVP/Controller/CAO) sold 213 shares at $189.20 per share price. On May 18, 2016, Anne H Lloyd (EVP and CFO) sold 9,031 shares at $186.76 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 Company’s Aggregates Business is engaged in mining processing and selling granite limestone sand gravel and other aggregate products. The Company’s Cement Business is engaged in producing Portland and specialty cements such as masonry and oil well cements. The Company’s Magnesia Specialties Business includes magnesia-based chemicals and dolomitic lime businesses.

Martin Marietta Materials

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