Aristotle Capital Management, LLC, an investment management company, released its “Aristotle Value Equity Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -12.43% at NAV compared to a -12.21% return for the Russell 1000 Value Index. However, the fund outperformed the S&P 500 Index, which returned -16.10% in the quarter. Sector allocation attributed to the fund’s underperformance compared to the Russell 1000 Value Index in the second quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Capital discussed stocks like Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter 2022 investor letter. Headquartered in Raleigh, North Carolina, Martin Marietta Materials, Inc. (NYSE:MLM) is a building materials company. On October 7, 2022, Martin Marietta Materials, Inc. (NYSE:MLM) stock closed at $320.25 per share. One-month return of Martin Marietta Materials, Inc. (NYSE:MLM) was -10.12%, and its shares lost 10.49% of their value over the last 52 weeks. Martin Marietta Materials, Inc. (NYSE:MLM) has a market capitalization of $19.975 billion.
Here is what Aristotle Capital specifically said about Martin Marietta Materials, Inc. (NYSE:MLM) in its Q2 2022 investor letter:
“Aggregates producer Martin Marietta Materials, Inc. (NYSE:MLM) was one of the largest detractors for the quarter. Despite robust demand and positive pricing momentum, labor shortages, logistics challenges and cost inflation outpaced top-line improvement. Specifically, management cited the higher-than-anticipated rise in energy costs as a primary driver of the company’s yearover-year decline in profit margins. Nevertheless, annual price increases effective April 1, some of the largest in Martin Marietta’s recent history, and a second round of price increases in July are expected to more than offset cost pressures, resulting in long-term margin expansion. We believe the company’s ability to navigate this challenging environment with strong pricing power highlights Martin Marietta’s leading market position and geographically advantaged asset base. Furthermore, the company completed the sale of its Colorado and Central Texas ready mixed concrete operations during the period in line with its SOAR 2025 priorities. This divesture contributes to the overall optimization of Martin Marietta’s aggregates-led portfolio, which should reduce business cyclicality and raw material cost inflation exposure in the long run.”
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Martin Marietta Materials, Inc. (NYSE:MLM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Martin Marietta Materials, Inc. (NYSE:MLM) at the end of the second quarter which was 35 in the previous quarter.
We discussed Martin Marietta Materials, Inc. (NYSE:MLM) in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.
Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.
At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.
Do the math. According to Musk, this technology could be worth $250 trillion by 2040.
Put another way, that’s roughly equal to:
175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias
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Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.
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