Martin Marietta Materials Inc. (NYSE:MLM) saw a downside of -0.04% to close Friday at $406.38 after subtracting -$0.18 on the day. The 5-day average trading volume is 480,080 shares of the company’s common stock. It has gained $430.48 in the past week and touched a new high 1 time within the past 5 days. An average of 386,165 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 395,042.
MLM’s 1-month performance is -8.11% or -$29.94 on its low of $404.00 reached on 09/22/23. The company’s shares have touched a 52-week low of $298.32 and high of $463.41, with the stock’s rally to the 52-week high happening on 07/27/23. YTD, MLM has achieved 20.24% or $68.41 and has reached a new high 33 times. However, the current price is down -12.31% from the 52-week high price.
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Insider Transactions
MLM stock investors last saw insider trading activity on Aug 21.LaTorre Craig M (Sr. VP, CHRO) most recently sold 1,934 shares at $431.68 per share on Aug 21. This transaction cost the insider $834,869. Sr. VP, CHRO, LaTorre Craig M, sold 500 shares at a price of $447.09 on Jul 28. Then, on Nov 18, Director COLE SUE W sold 1,685 shares at a price of $355.61 per share. This transaction amounted to $599,196.
Valuation Metrics
MLM stock has a beta of 0.91. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.89 while the price-to-book (PB) in the most recent quarter is 3.38, with the price to cash flow ratio at 37.54.
Martin Marietta Materials Inc.’s quick ratio for the period ended June 29 was 1.55, with the current ratio over the same period at 2.21. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.63, while the total debt to equity was 0.73. In terms of profitability, the gross margin trailing 12 months is 26.38%. The trailing 12-month EBITDA margin is 27.95% while for the period ending June 29, Martin Marietta Materials Inc.’s operating margin was 20.63%. The firm’s gross profit as reported stood at $1.42 billion against revenue of $6.16 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -5.23% to $348.3 million, while revenue of $121.4 million was 65.14% off the previous quarter. Analysts expected MLM to announce $4.86 per share in earnings in its latest quarter, but it posted $5.6, representing a 15.20% surprise. EBITDA for the quarter stood at more than $592.8 million. MLM stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 7.82 billion, with total debt at $5.43 billion. Shareholders hold equity totaling $61.8 million.
Let’s look briefly at Martin Marietta Materials Inc. (MLM) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 19.83% to suggest the stock is trending oversold, with historical volatility in this time period at 18.98%.
The stock’s 5-day moving average is $416.92, reflecting a -4.41% or -$18.75 change from its current price. MLM is currently trading -7.10% above its 20-day SMA, +10.62% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -10.51% and SMA200 by+15.03%.
Stochastic %K and %D was 4.97% and 8.06% and the average true range (ATR) pointed at 9.59. The RSI (14) points at 26.95%, while the 14-day stochastic is at 4.52% with the period’s ATR at 9.59. The stock’s 9-day MACD Oscillator is pointing at -12.82 and -18.16 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Martin Marietta Materials Inc. (NYSE: MLM), HSBC Securities launched coverage with a Reduce rating. Analysts offering their rating for MLM stock have a consensus rating for the stock as Overweight. Currently, 2 brokerage advisors rate MLM as a “sell,”, while 7 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 12 have offered a “buy” rating.
What is MLM’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $376.00 and a high of $565.00, with their median price target at $497.75. Looking at these predictions, the average price target given by analysts is for Martin Marietta Materials Inc. (MLM) stock is $502.22.
