Martin Marietta Materials, Inc. (NYSE:MLM) Short Interest Down 22.8% in February

Martin Marietta Materials, Inc. (NYSE:MLM) was the target of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 1,632,050 shares, a decline of 22.8% from the January 29th total of 2,114,191 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average trading volume of 595,283 shares, the days-to-cover ratio is currently 2.7 days. Based on an average trading volume of 595,283 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.7% of the company’s stock are sold short.

Martin Marietta Materials Stock Down 2.8%

MLM stock opened at $657.33 on Monday. The company’s 50 day moving average is $656.95 and its 200 day moving average is $631.76. Martin Marietta Materials has a 1-year low of $441.95 and a 1-year high of $710.97. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The stock has a market cap of $39.64 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 2.60 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.79 EPS. Sell-side analysts predict that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is 17.66%.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Royal Bank Of Canada restated a “sector perform” rating and set a $630.00 price objective on shares of Martin Marietta Materials in a research note on Thursday. Stephens cut their target price on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, UBS Group boosted their price target on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $695.63.

Institutional Trading of Martin Marietta Materials

Several institutional investors have recently added to or reduced their stakes in the business. MV Capital Management Inc. purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at $49,000. Compound Planning Inc. lifted its position in shares of Martin Marietta Materials by 4.0% during the 4th quarter. Compound Planning Inc. now owns 1,150 shares of the construction company’s stock valued at $716,000 after buying an additional 44 shares in the last quarter. Invesco Ltd. grew its stake in shares of Martin Marietta Materials by 9.3% during the 4th quarter. Invesco Ltd. now owns 769,904 shares of the construction company’s stock valued at $479,389,000 after acquiring an additional 65,623 shares during the period. Axxcess Wealth Management LLC raised its stake in Martin Marietta Materials by 83.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,970 shares of the construction company’s stock worth $1,227,000 after acquiring an additional 896 shares during the period. Finally, Alberta Investment Management Corp bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $623,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.