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Shares of Martin Marietta Materials Rise to a New 52-Week High

By James Quinn

Martin Marietta Materials (NYSE:MLM) traded today at a new 52-week high of $180.70. This new high was reached on below average trading volume as 138,000 shares traded hands, while the average 30-day volume is approximately 623,000 shares.

In the past 52 weeks, shares of Martin Marietta Materials have traded between a low of $108.31 and a high of $180.70 and are now at $180.66, which is 67% above that low price. 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 3.3% above its average consensus analyst price target of $174.62. Martin Marietta Materials shares have support at the 50-day moving average (MA) of $159.78 and additional support at the 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 33.4%. 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