Azzad Asset Management Inc. ADV Has $4.39 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Azzad Asset Management Inc. ADV raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,152 shares of the construction company’s stock after buying an additional 39 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Martin Marietta Materials were worth $4,391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Schear Investment Advisers LLC grew its holdings in Martin Marietta Materials by 1.2% in the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after buying an additional 20 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Martin Marietta Materials by 1.8% in the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock worth $584,000 after acquiring an additional 21 shares during the period. Independence Bank of Kentucky lifted its position in shares of Martin Marietta Materials by 16.9% in the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock worth $76,000 after acquiring an additional 22 shares during the period. Global Retirement Partners LLC lifted its position in shares of Martin Marietta Materials by 5.0% in the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock worth $228,000 after acquiring an additional 22 shares during the period. Finally, Spreng Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 3.1% in the 4th quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock worth $387,000 after acquiring an additional 23 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the subject of a number of research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Truist Financial raised their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group raised their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus cut their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $608.45.

Martin Marietta Materials Price Performance

MLM traded down $2.24 during trading on Wednesday, hitting $532.59. The company’s stock had a trading volume of 61,306 shares, compared to its average volume of 419,927. The firm’s 50 day moving average price is $571.94 and its two-hundred day moving average price is $557.79. The stock has a market capitalization of $32.83 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 2.40 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period last year, the firm earned $2.16 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $0.74 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.56%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.