Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Wahed Invest LLC

Wahed Invest LLC lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,568 shares of the construction company’s stock after acquiring an additional 81 shares during the period. Wahed Invest LLC’s holdings in Martin Marietta Materials were worth $810,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Martin Marietta Materials by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company’s stock valued at $3,705,466,000 after purchasing an additional 36,531 shares during the period. JPMorgan Chase & Co. grew its holdings in Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after acquiring an additional 506,705 shares during the period. Principal Financial Group Inc. raised its position in Martin Marietta Materials by 11.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock worth $939,898,000 after acquiring an additional 191,043 shares in the last quarter. Amundi raised its holdings in shares of Martin Marietta Materials by 10.5% in the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after purchasing an additional 148,065 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Martin Marietta Materials by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company’s stock valued at $758,499,000 after buying an additional 32,082 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Activity

In related news, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $536.61 on Friday. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The company has a market capitalization of $32.52 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The company’s fifty day moving average price is $485.33 and its 200 day moving average price is $530.64.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 EPS. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

Analyst Ratings Changes

MLM has been the subject of several analyst reports. Barclays reduced their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Stephens decreased their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Truist Financial lowered their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $603.23.

Martin Marietta Materials 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.