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

Aigen Investment Management LP raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 157.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,451 shares of the construction company's stock after acquiring an additional 2,112 shares during the period. Aigen Investment Management LP's holdings in Martin Marietta Materials were worth $1,782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. Proficio Capital Partners LLC raised its position in shares of Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock valued at $474,370,000 after acquiring an additional 916,743 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Martin Marietta Materials by 76.2% during the 3rd 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 during the last quarter. JPMorgan Chase & Co. raised its position in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the last quarter. FMR LLC raised its position in shares of Martin Marietta Materials by 15.3% during the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock valued at $1,353,936,000 after acquiring an additional 334,605 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of Martin Marietta Materials by 7,608.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company's stock valued at $97,624,000 after acquiring an additional 179,020 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have issued reports on MLM. StockNews.com cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. Citigroup lowered their target price on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a report on Monday, January 6th. Loop Capital lowered their target price on Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Morgan Stanley lowered their target price on Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Finally, Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 target price for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $634.36.

Martin Marietta Materials Stock Performance

NYSE:MLM traded down $14.89 during mid-day trading on Friday, hitting $461.02. The stock had a trading volume of 983,189 shares, compared to its average volume of 447,821. Martin Marietta Materials, Inc. has a twelve month low of $448.50 and a twelve month high of $633.23. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 4.45 and a beta of 0.89. The company's 50 day simple moving average is $518.87 and its 200 day simple moving average is $543.22. 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 (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.69%. Martin Marietta Materials's dividend payout ratio is currently 9.77%.

Insider Buying and Selling at Martin Marietta Materials

In related news, SVP Michael J. Petro purchased 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased 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 directly owns 8,985 shares in the company, valued at $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

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.