Martin Marietta Materials Inc. (NYSE:MLM) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $201.10 and last traded at $201.05, with a volume of 150,406 shares changing hands. The stock had previously closed at $198.69.

MLM has been the topic of a number of research reports. Goldman Sachs Group Inc. upped their price objective on Martin Marietta Materials from $180.00 to $185.00 in a report on Friday, April 8th. Zacks Investment Research raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Tuesday, April 12th. Stifel Nicolaus upped their price objective on Martin Marietta Materials from $181.00 to $193.00 and gave the company a “buy” rating in a report on Monday, May 9th. Jefferies Group reaffirmed a “hold” rating and issued a $166.00 price objective on shares of Martin Marietta Materials in a report on Tuesday, May 10th. Finally, Alembic Global Advisors began coverage on Martin Marietta Materials in a report on Thursday, June 9th. They issued an “overweight” rating and a $220.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $198.14.

The firm has a market capitalization of $12.99 billion and a price-to-earnings ratio of 41.36. The firm has a 50 day moving average of $191.02 and a 200 day moving average of $164.63.

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 1st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $1.60 dividend on an annualized basis and a yield of 0.79%.

In other Martin Marietta Materials news, CFO Anne H. Lloyd sold 9,031 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $186.76, for a total value of $1,686,629.56. Following the completion of the sale, the chief financial officer now directly owns 68,624 shares of the company’s stock, valued at $12,816,218.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dana F. Guzzo sold 213 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $189.20, for a total value of $40,299.60. Following the completion of the sale, the chief accounting officer now directly owns 15,734 shares of the company’s stock, valued at $2,976,872.80. The disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Martin Marietta Materials by 42.3% in the fourth quarter. Morgan Stanley now owns 248,433 shares of the company’s stock worth $33,931,000 after buying an additional 73,879 shares in the last quarter. Vanguard Group Inc. increased its stake in 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in Martin Marietta Materials by 4.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 16,974 shares of the company’s stock worth $2,318,000 after buying an additional 798 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Martin Marietta Materials by 0.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 15,975 shares of the company’s stock worth $2,182,000 after buying an additional 90 shares in the last quarter. Finally, Comerica Bank increased its stake in 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 in the last quarter.

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.

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