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

By David Diaz

Martin Marietta Materials (NYSE:MLM) traded today at a new 52-week high of $192.41. Approximately 65,000 shares have changed hands today, 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 $192.41 and a 52-week low of $108.31 and are now trading 77% above that low price at $192.02 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.2%.

Martin Marietta Materials (NYSE:MLM) is currently priced 9.1% 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.

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 42.9%. 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