Here's Why Martin Marietta (MLM) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Martin Marietta (MLM)
Based in Raleigh, NC, Martin Marietta Materials, Inc. produces and supplies construction aggregates and other heavy building materials, mainly cement, in the United States. The end uses of the company’s aggregates and cement are infrastructure, private residential and private non-residential construction. Railroad, agricultural, utility and environmental industries also use these products. The company supplies aggregates (crushed stone, sand and gravel) through its network of approximately 350 quarries, mines and distribution yards in 28 states, Canada and the Bahamas.
MLM sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 1.2% and up 0.9% over the past one-week and four-week period, respectively, and Martin Marietta has gained 38.8% in the last one-year period as well. Additionally, an average of 422,955.25 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, four analysts revised their earnings estimate higher in the last 60 days for MLM, while the Zacks Consensus Estimate has increased $0.20 to $17.76 per share. MLM also boasts an average earnings surprise of 33.4%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding MLM to their portfolios.
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Martin Marietta Materials, Inc. (MLM) : Free Stock Analysis Report
