Aigen Investment Management LP Buys 2,112 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Aigen Investment Management LP boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 157.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,451 shares of the construction company’s stock after purchasing an additional 2,112 shares during the quarter. Aigen Investment Management LP’s holdings in Martin Marietta Materials were worth $1,782,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLM. Whipplewood Advisors LLC acquired a new position in Martin Marietta Materials during the 4th quarter valued at about $32,000. First Personal Financial Services acquired a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Kestra Investment Management LLC purchased a new stake in Martin Marietta Materials during the 4th quarter worth approximately $35,000. Retirement Wealth Solutions LLC acquired a new position in Martin Marietta Materials during the 4th quarter valued at approximately $41,000. Finally, R Squared Ltd acquired a new position in Martin Marietta Materials during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 1.7 %

Shares of Martin Marietta Materials stock opened at $461.70 on Wednesday. The firm has a 50-day simple moving average of $522.44 and a two-hundred day simple moving average of $544.62. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. Martin Marietta Materials, Inc. has a fifty-two week low of $451.09 and a fifty-two week high of $633.23. The company has a market cap of $28.15 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.68%. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MLM. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Truist Financial cut their price objective 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. Barclays reduced their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Raymond James cut their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $634.36.

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.