Wahed Invest LLC Has $810,000 Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Wahed Invest LLC lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,568 shares of the construction company’s stock after purchasing an additional 81 shares during the period. Wahed Invest LLC’s holdings in Martin Marietta Materials were worth $810,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC raised its position in Martin Marietta Materials by 54,277.3% in the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock worth $474,370,000 after purchasing an additional 916,743 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after acquiring an additional 704,460 shares during the last quarter. Norges Bank acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at $306,863,000. JPMorgan Chase & Co. boosted its holdings in Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter worth about $196,374,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Trading Up 2.6 %

Shares of Martin Marietta Materials stock opened at $536.61 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a 50-day moving average of $485.33 and a 200-day moving average of $530.64. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The stock has a market cap of $32.52 billion, a PE ratio of 16.60, a PEG ratio of 4.45 and a beta of 0.81.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 EPS. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

Insider Activity

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial dropped their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. UBS Group downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $491.00 price target on the stock. in a research note on Monday, April 7th. Loop Capital decreased their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Citigroup decreased their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $603.23.

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.