The chief executive officer of Martin Marietta Materials sold nearly $2 million worth of company stock on Nov. 9, according to a Securities and Exchange Commission filing.

Howard Nye sold 8,691 shares at an average price of $224.68, according to a Form 4 filed with the Securities and Exchange Commission. He also sold 1,271 shares to pay for taxes.

Nye had exercised options to purchase 6,792 shares for $121 and 3,170 shares for $154.58 earlier on Nov. 9.

Following the sale, Nye still owns over 113,614 shares worth $25.5 million.

Nye started working at Martin Marietta Materials in 2006. Prior to that he served as an executive vice president of Hanson Aggregates North America and also president of Hanson Aggregates East.

Martin Marietta Materials reported a profit hike of 36 percent and revenue above expectations in the third quarter.

The building materials supplier profit was $159.5 million in the third quarter, up nearly 36 percent from a year prior.

Following the presidential election, Martin Marietta Materials stock has surged, up 13.72 percent.

Chief Accounting Officer Dana Guzzo, Chief Financial Officer Anne Lloyd and Senior Vice President Daniel Grant also sold shares following the election.

Martin Marietta Materials stock closed at $229.74, down $3.78, or 1.62 percent, on Friday.