Azzad Asset Management Inc. ADV Invests $3.79 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

Azzad Asset Management Inc. ADV acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,921 shares of the construction company's stock, valued at approximately $3,787,000.

Several other hedge funds have also modified their holdings of the company. New England Research & Management Inc. raised its holdings in shares of Martin Marietta Materials by 3.1% during the 1st quarter. New England Research & Management Inc. now owns 2,355 shares of the construction company's stock worth $1,126,000 after acquiring an additional 70 shares in the last quarter. RMR Wealth Builders raised its holdings in shares of Martin Marietta Materials by 40.4% during the 1st quarter. RMR Wealth Builders now owns 3,358 shares of the construction company's stock worth $1,605,000 after acquiring an additional 967 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in Martin Marietta Materials by 1.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 28,995 shares of the construction company's stock valued at $13,863,000 after buying an additional 436 shares during the period. Ferguson Wellman Capital Management Inc. raised its holdings in Martin Marietta Materials by 6.7% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 1,072 shares of the construction company's stock valued at $513,000 after buying an additional 67 shares during the period. Finally, Net Worth Advisory Group raised its holdings in Martin Marietta Materials by 2.2% during the 1st quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock valued at $475,000 after buying an additional 21 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 1.9%

Shares of MLM traded down $10.77 during midday trading on Friday, reaching $541.87. 249,973 shares of the stock were exchanged, compared to its average volume of 486,711. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The company's 50 day moving average is $529.68 and its two-hundred day moving average is $521.85. The company has a market capitalization of $32.67 billion, a P/E ratio of 16.76, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned $1.93 earnings per share. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is presently 18.20%.

Wall Street Analysts Forecast Growth

MLM has been the topic of several recent research reports. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Stifel Nicolaus increased their price target on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Raymond James decreased their price target on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Finally, Morgan Stanley increased their price target on Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $610.69.

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.