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

Azzad Asset Management Inc. ADV increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in Martin Marietta Materials during the first quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Martin Marietta Materials during the fourth quarter worth $25,000. Pinnacle Bancorp Inc. bought a new stake in Martin Marietta Materials during the fourth quarter worth $26,000. Exchange Traded Concepts LLC bought a new stake in Martin Marietta Materials during the fourth quarter worth $27,000. Finally, Benjamin Edwards Inc. lifted its stake in Martin Marietta Materials by 78.8% during the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.4 %

NYSE MLM traded down $2.24 during trading hours 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. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The company has a market capitalization of $32.83 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 2.40 and a beta of 0.91. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The company’s 50-day simple moving average is $571.94 and its two-hundred day simple moving average is $557.79.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $2.16 EPS. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. Research analysts anticipate that Martin Marietta Materials, Inc. will post 23.1 EPS 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. Shareholders of record on Monday, June 3rd were given a dividend of $0.74 per share. 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 is currently 8.77%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup upped their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Stifel Nicolaus dropped their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday. Wolfe Research cut Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $600.00 price objective (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Finally, StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $608.45.

Martin Marietta Materials Company Profile

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.