Martin Marietta Materials Sees Unusually High Options Volume (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) saw some unusual options trading on Thursday. Stock traders acquired 3,234 put options on the company. This is an increase of approximately 865% compared to the typical volume of 335 put options.

In other Martin Marietta Materials news, SVP Donald A. Mccunniff sold 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total transaction of $459,742.50. Following the completion of the transaction, the senior vice president now owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen P. Zelnak, Jr. purchased 3,500 shares of the stock in a transaction on Monday, July 30th. The shares were acquired at an average cost of $202.87 per share, with a total value of $710,045.00. Following the transaction, the director now directly owns 21,880 shares in the company, valued at $4,438,795.60. The disclosure for this purchase can be found here. Insiders own 0.75% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC bought a new position in Martin Marietta Materials in the 2nd quarter valued at approximately $128,000. Piedmont Investment Advisors LLC bought a new position in Martin Marietta Materials in the 2nd quarter valued at approximately $160,000. IFP Advisors Inc lifted its position in Martin Marietta Materials by 70.6% in the 1st quarter. IFP Advisors Inc now owns 829 shares of the construction company’s stock valued at $172,000 after acquiring an additional 343 shares in the last quarter. Putnam Investments LLC bought a new position in Martin Marietta Materials in the 2nd quarter valued at approximately $203,000. Finally, Sawtooth Solutions LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at $205,000.

Shares of Martin Marietta Materials stock traded up $0.72 during midday trading on Friday, hitting $169.58. The company had a trading volume of 895,171 shares, compared to its average volume of 662,472. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $11.47 billion, a P/E ratio of 23.62, a PEG ratio of 1.37 and a beta of 1.08. Martin Marietta Materials has a 52-week low of $167.67 and a 52-week high of $241.33.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, July 26th. The construction company reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.45. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.27 EPS. As a group, equities analysts expect that Martin Marietta Materials will post 9.33 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 4th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, August 31st. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 1.13%. Martin Marietta Materials’s dividend payout ratio is 26.74%.

MLM has been the topic of a number of research analyst reports. Bank of America reduced their target price on Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a report on Wednesday, July 25th. Stifel Nicolaus upped their target price on Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, July 27th. ValuEngine downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, July 28th. Citigroup reduced their target price on Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, July 30th. Finally, Stephens reiterated a “hold” rating and set a $233.00 target price on shares of Martin Marietta Materials in a report on Wednesday, August 1st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $236.13.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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