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Insider Sale Alert: Martin Marietta Materials, Inc. [MLM] – Is it Time to sell?

In a filing, Martin Marietta Materials, Inc. revealed its EVP, General Counsel and Secy BAR ROSELYN R unloaded Company’s shares for reported $6.03 million on Mar 14 ’24. In the deal valued at $603.29 per share,10,000 shares were sold. As a result of this transaction, BAR ROSELYN R now holds 59,970 shares worth roughly $36.14 million.

Then, Nye C Howard sold 15,000 shares, generating $9,063,900 in total proceeds. Upon selling the shares at $604.26, the Chairman, Pres & CEO now owns 134,640 shares.

Before that, Nye C Howard sold 5,000 shares. Martin Marietta Materials, Inc. shares valued at $3,021,300 were divested by the Chairman, Pres & CEO at a price of $604.26 per share. As a result of the transaction, Nye C Howard now holds 70,400 shares, worth roughly $42.43 million.

JP Morgan downgraded its Martin Marietta Materials, Inc. [MLM] rating to a Neutral from a an Overweight in a research note published on March 22, 2024; the price target was increased to $600 from $530. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in early March from “an Outperform” to “a Peer perform”. HSBC Securities also remained covering MLM and has increased its forecast on February 22, 2024 with a “Hold” recommendation from previously “Reduce” rating. Morgan Stanley started covering the stock on January 08, 2024. It rated MLM as “an Overweight”.

Price Performance Review of MLM

On Monday, Martin Marietta Materials, Inc. [NYSE:MLM] saw its stock fall -0.39% to $602.64. Over the last five days, the stock has gained 3.14%. Martin Marietta Materials, Inc. shares have risen nearly 20.79% since the year began. Nevertheless, the stocks have risen 68.31% over the past one year. While a 52-week high of $626.67 was reached on 04/08/24, a 52-week low of $345.03 was recorded on 01/03/24. SMA at 50 days reached $593.14, while 200 days put it at $492.91. A total of 0.52 million shares were traded, compared to the trading of 0.39 million shares in the previous session.

Levels Of Support And Resistance For MLM Stock

The 24-hour chart illustrates a support level at 598.30, which if violated will result in even more drops to 593.95. On the upside, there is a resistance level at 607.49. A further resistance level may holdings at 612.33. The Relative Strength Index (RSI) on the 14-day chart is 54.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.75, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 35.91%. Stochastics %K at 58.38% indicates the stock is a holding.

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