Aigen Investment Management LP Acquires Shares of 1,339 Martin Marietta Materials, Inc. (NYSE:MLM)

Aigen Investment Management LP bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 3rd quarter, according to the company in its most recent 13F 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 and other institutional investors have also modified their holdings of MLM. Newbridge Financial Services Group Inc. raised its position in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock valued at $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC lifted its position in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after buying an additional 52 shares in the last quarter. First Personal Financial Services bought a new stake in Martin Marietta Materials during the 3rd quarter worth about $33,000. Fortitude Family Office LLC increased its position in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock valued at $34,000 after acquiring an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in shares of Martin Marietta Materials in the first quarter worth about $41,000. Institutional investors own 95.04% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MLM shares. StockNews.com raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Jefferies Financial Group lowered their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Morgan Stanley increased their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the company an "overweight" rating in a research note on Monday, August 26th. Truist Financial dropped their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating for the company in a report on Friday, August 9th. Finally, UBS Group started coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a "buy" rating and a $730.00 price target on the stock. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $634.85.

Martin Marietta Materials Stock Down 2.6 %

Shares of MLM stock traded down $15.66 during trading on Thursday, reaching $589.60. The company's stock had a trading volume of 289,246 shares, compared to its average volume of 446,902. The business has a fifty day moving average price of $554.32 and a 200-day moving average price of $556.80. Martin Marietta Materials, Inc. has a one year low of $451.37 and a one year high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The company has a market cap of $36.04 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm posted $6.94 earnings per share. The business's revenue was down 5.3% compared to the same quarter last year. Analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced 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. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials's payout ratio is 9.85%.

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.