Martin Marietta Materials Inc. (NYSE:MLM) shares shot up 4% on Wednesday . The company traded as high as $194.71 and last traded at $194.20, with a volume of 452,761 shares changing hands. The stock had previously closed at $186.77.

A number of research firms have weighed in on MLM. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research note on Tuesday, April 26th. Zacks Investment Research raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $201.00 price objective on the stock in a research note on Tuesday, June 28th. Bank of America Corp. reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research note on Friday, June 17th. Alembic Global Advisors began coverage on shares of Martin Marietta Materials in a research note on Thursday, June 9th. They issued an “overweight” rating and a $220.00 price objective on the stock. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $166.00 price objective on shares of Martin Marietta Materials in a research note on Tuesday, May 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $193.25.

The stock has a market capitalization of $12.45 billion and a P/E ratio of 39.65. The company’s 50 day moving average is $187.20 and its 200 day moving average is $158.53.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, May 5th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.36 by $0.33. The firm earned $734 million during the quarter, compared to analysts’ expectations of $657.46 million. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. Analysts expect that Martin Marietta Materials Inc. will post $7.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Friday, May 27th.

In other news, Director Stephen P. Zelnak, Jr. sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $188.90, for a total transaction of $566,700.00. Following the sale, the director now owns 16,689 shares in the company, valued at approximately $3,152,552.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Dana F. Guzzo sold 879 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $187.64, for a total transaction of $164,935.56. Following the sale, the chief accounting officer now owns 17,022 shares in the company, valued at approximately $3,194,008.08. The disclosure for this sale can be found here.

Other hedge funds have made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 5,697,147 shares of the company’s stock worth $778,117,000 after buying an additional 267,213 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth approximately $7,483,000. Comerica Bank boosted its stake in shares of Martin Marietta Materials by 3.8% in the fourth quarter. Comerica Bank now owns 20,354 shares of the company’s stock worth $2,567,000 after buying an additional 744 shares during the period. ProShare Advisors LLC boosted its stake in shares of Martin Marietta Materials by 29.2% in the fourth quarter. ProShare Advisors LLC now owns 13,985 shares of the company’s stock worth $1,910,000 after buying an additional 3,163 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Martin Marietta Materials by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 159,794 shares of the company’s stock worth $21,825,000 after buying an additional 7,400 shares during the period.

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.

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