Martin Marietta Materials (MLM) was Reiterated by DA Davidson to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 210 from a previous price target of $190 . DA Davidson advised their investors in a research report released on Aug 3, 2016.
Many Wall Street Analysts have commented on Martin Marietta Materials. Alembic Global Advisors Initiated Martin Marietta Materials on Jun 9, 2016 to “Overweight”, Price Target of the shares are set at $220.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 $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $2.00. The company had revenue of $915.40 million for the quarter, compared to analysts expectations of $997.65 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.
Martin Marietta Materials opened for trading at $193.7 and hit $199.51 on the upside on Tusday, eventually ending the session at $198.5, with a gain of 1.12% or 2.19 points. The heightened volatility saw the trading volume jump to 8,86,754 shares. Company has a market cap of $12,610 M.
In a different news, on Jun 9, 2016, Stephen P Jr Zelnak (director) sold 3,000 shares at $188.90 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 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.