Aigen Investment Management LP Invests $721,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

Aigen Investment Management LP bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 1,339 shares of the construction company’s stock, valued at approximately $721,000.

Several other hedge funds have also modified their holdings of MLM. Principal Financial Group Inc. grew its position in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after purchasing an additional 523,038 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after purchasing an additional 12,759 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after purchasing an additional 164,503 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after buying an additional 11,749 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

MLM stock opened at $605.33 on Thursday. Martin Marietta Materials, Inc. has a 1 year low of $451.37 and a 1 year high of $633.23. The stock has a market capitalization of $37.00 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 4.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock’s fifty day moving average is $554.32 and its two-hundred day moving average is $556.80.

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 the consensus estimate 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 the consensus estimate of $1.94 billion. During the same quarter in the prior year, the business earned $6.94 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm 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 $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

Analysts Set New Price Targets

MLM has been the subject of several recent analyst reports. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Citigroup dropped their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Barclays boosted their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Truist Financial reduced their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $634.85.

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.