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

Martin Marietta Materials, Inc. (NYSE:MLM) was the target of some unusual options trading on Tuesday. Investors bought 2,062 call options on the stock. This is an increase of 1,450% compared to the typical volume of 133 call options.

Martin Marietta Materials Trading Down 0.5%

NYSE:MLM opened at $570.90 on Thursday. The firm has a market capitalization of $34.28 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.44 and a beta of 1.10. The business’s 50-day moving average price is $579.38 and its two-hundred day moving average price is $613.75. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Martin Marietta Materials has a 1-year low of $525.38 and a 1-year high of $710.97.

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

Martin Marietta Materials Dividend Announcement

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

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Optima Capital LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in Martin Marietta Materials during the third quarter worth about $27,000. Meeder Asset Management Inc. raised its holdings in Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after acquiring an additional 19 shares in the last quarter. CoreCap Advisors LLC boosted its position in Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Martin Marietta Materials during the fourth quarter valued at approximately $31,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MLM shares. Raymond James Financial lowered their price target on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating on the stock in a report on Wednesday. UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a research note on Sunday, May 10th. Morgan Stanley decreased their target price on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a research note on Thursday, April 2nd. Finally, Barclays reduced their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $681.53.

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.