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Martin Marietta Materials (MLM) engages in the production and sale of aggregates for the construction industry primarily in the United States, Canada, the Bahamas, and the Caribbean Islands.
It mines, processes, and sells granite, limestone, sand, gravel, and other aggregate products for use in the public infrastructure, and nonresidential and residential construction industries, as well as in the agriculture, railroad ballast, chemical, and other applications. The company also offers asphalt, ready mixed concrete, and road paving materials.
In addition, it manufactures and markets magnesia-based chemical products for the industrial, agricultural, and environmental applications; and dolomitic lime primarily for use in the steel industry. These chemical products are used in flame retardants, wastewater treatment, pulp and paper production, and other environmental applications.
Shares have formed a bullish "flag" after the company reported better than expected results and reports surfaced that that MLM may explore a friendly takeover bid for its rival construction materials producer, Vulvan Material (VMC).
We are now hearing rumors of good news for this company. One of the rumors states that this stock will be named by the leading stock advisory service as one of its "top picks." This service is widely followed by mutual funds and institutional money managers. These investors have portfolios that mimic recommendations of this service. Their naming of the stock should lead to additional demand for the shares.
52-Week Trading Range: $63.64 to $94.05
Last Trade: $92.29
Stop Loss: $87.40
Target Price: $101.20
We are closing this position at $98.27 with 6+% gain as our 30-day time expired
