Aigen Investment Management LP Buys New Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Aigen Investment Management LP purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,339 shares of the construction company’s stock, valued at approximately $721,000.

A number of other institutional investors also recently made changes to their positions in MLM. Principal Financial Group Inc. raised its holdings in 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 purchasing an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Martin Marietta Materials by 114.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Martin Marietta Materials by 54.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after buying an additional 164,503 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Martin Marietta Materials by 247.5% during the second quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after buying an additional 106,002 shares in the last quarter. Finally, M&G Plc acquired a new position in Martin Marietta Materials during the first quarter worth about $41,142,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 0.2 %

NYSE:MLM opened at $605.33 on Thursday. The stock has a market cap of $37.00 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90. Martin Marietta Materials, Inc. has a fifty-two week low of $451.37 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock’s 50-day moving average is $554.32 and its two-hundred day moving average is $556.80.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS 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 company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm posted $6.94 earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.52%. Martin Marietta Materials’s dividend payout ratio is 9.85%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday, November 8th. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. Truist Financial dropped their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barclays increased their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Citigroup cut their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

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.