Traders Purchase Large Volume of Call Options on Martin Marietta Materials (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 2,062 call options on the stock. This represents an increase of approximately 1,450% compared to the typical daily volume of 133 call options.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $574.13 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $580.29 and a 200-day moving average price of $614.25. Martin Marietta Materials has a 52 week low of $525.38 and a 52 week high of $710.97. The firm has a market capitalization of $34.48 billion, a PE ratio of 13.68, a P/E/G ratio of 2.42 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, equities research analysts expect that Martin Marietta Materials will post 19.38 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were paid a dividend of $0.83 per share. The ex-dividend date was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 7.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MLM shares. B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target for the company in a research report on Thursday, April 2nd. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Citigroup increased their target price on Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Finally, Morgan Stanley decreased their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $682.41.

Institutional Trading of Martin Marietta Materials

Hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in shares of Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after purchasing an additional 49 shares during the last quarter. Empowered Funds LLC grew its position in Martin Marietta Materials by 11.4% during the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after buying an additional 144 shares during the period. Sivia Capital Partners LLC grew its position in Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after buying an additional 51 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Martin Marietta Materials by 205.9% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after buying an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC increased its holdings in Martin Marietta Materials by 22.6% during the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.