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Shares of Martin Marietta Materials Has Risen Above Previous 52-Week High

By James Quinn

Martin Marietta Materials (NYSE:MLM) traded today at a new 52-week high of $189.76. So far today approximately 136,000 shares have been exchanged, as compared to an average 30-day volume of 623,000 shares.

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.

Martin Marietta Materials (NYSE:MLM) is currently priced 7.5% 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.

In the past 52 weeks, shares of Martin Marietta Materials have traded between a low of $108.31 and a high of $189.76 and are now at $188.71, which is 74% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.7%.

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 40.0%. 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