Wahed Invest LLC Boosts Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Wahed Invest LLC lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 13.5% during the 3rd quarter, Holdings Channel reports. The fund owned 1,487 shares of the construction company’s stock after buying an additional 177 shares during the quarter. Wahed Invest LLC’s holdings in Martin Marietta Materials were worth $800,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Newbridge Financial Services Group Inc. increased its position in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC increased its position in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the last quarter. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $33,000. Rothschild Investment LLC acquired a new stake in shares of Martin Marietta Materials during the 2nd quarter worth about $43,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

MLM stock opened at $581.36 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a fifty-two week low of $458.58 and a fifty-two week high of $633.23. The business has a 50 day moving average price of $575.82 and a 200 day moving average price of $556.32. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 3.95 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm posted $6.94 EPS. Martin Marietta Materials’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group dropped their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd. Finally, UBS Group assumed coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price for the company. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $644.46.

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.