Martin Marietta Materials: 52-Week High Recently Eclipsed (MLM)
Shares of Martin Marietta Materials (NYSE:MLM) traded today at $203.72, breaking its 52-week high. So far today approximately 51,000 shares have been exchanged, as compared to an average 30-day volume of 623,000 shares.
Based on a current price of $202.50, Martin Marietta Materials is currently 13.8% above its average consensus analyst price target of $174.62. The stock should find initial support at its 50-day moving average (MA) of $159.78 and further support at its 200-day MA of $152.66.
Over the past year, Martin Marietta Materials has traded in a range of $108.31 to $203.72 and is now at $202.50, 87% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.7%.
Martin Marietta Materials, Inc. produces aggregates for the construction industry, including highways, infrastructure, commercial, and residential. The Company also manufactures and markets magnesia-based products, including heat-resistant refractory products for the steel industry, chemical products for industrial and environmental uses, and dolomitic lime.
SmarTrend recommended that subscribers consider buying shares of Martin Marietta Materials on February 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $133.42. Since that recommendation, shares of Martin Marietta Materials have risen 51.3%. We continue to monitor MLM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows Martin Marietta Materials