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Recent 52-Week High Exceeded in Shares of Martin Marietta Materials (MLM)

By James Quinn

Shares of Martin Marietta Materials (NYSE:MLM) traded at a new 52-week high today of $195.51. So far today approximately 58,000 shares have been exchanged, as compared to an average 30-day volume of 623,000 shares.

Martin Marietta Materials share prices have moved between a 52-week high of $195.51 and a 52-week low of $108.31 and are now trading 80% above that low price at $195.46 per share. The 200-day and 50-day moving averages have moved 0.19% higher and 1.69% higher over the past week, respectively.

Martin Marietta Materials (NYSE:MLM) defies analysts with a current price ($195.46) 10.7% above its average consensus 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.

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 46.1%. 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

Ticker(s): MLM