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Martin Marietta Materials Inc MLM Stock Quote

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Morningstar‘s Stock Analysis MLM

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Martin Marietta Reports Strong Top Line Growth on Robust End Market Demand and Higher Prices

Spencer Liberman Equity Analyst

Business Strategy and Outlook

| Spencer Liberman |

Martin Marietta is well positioned to benefit from increased U.S. infrastructure spending. Although mainly an aggregates producer, the company also has cement production in Texas. We forecast strengthening demand growth for the public sector and modest growth for the private sector. Accounting for roughly half of shipments, public-sector demand is generally more stable, and projects, primarily highway construction, are more aggregate-intensive per dollar of spending. However, in recent years, this sector's demand has been low relative to historical levels amid underfunding that has led to worsening conditions. Federal funding power has weakened over time, as better vehicle mileage and inflation have diminished the buying power of the $0.18 per gallon gasoline tax, unchanged since 1993. The FAST Act, passed in December 2015, provided stability and near-term funding certainty, but didn't solve the still-weakening gas tax. However, long-term federal funding was passed in late 2021, totaling $1.2 trillion.

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Key Statistics MLM

Company Profile MLM

Business Description

Martin Marietta Materials is one of the United States' largest producer of construction aggregates (crushed stone, sand, and gravel). In 2021, Martin Marietta sold 201 million tons of aggregates. Martin Marietta's most important markets include Texas, Colorado, North Carolina, Georgia, and Florida, accounting for most of its sales. The company also produces cement in Texas and uses its aggregates in its asphalt and ready-mixed concrete businesses. Martin’s magnesia specialties business produces magnesia-based chemical products and dolomitic lime.

Contact
4123 Parklake Avenue
Raleigh, NC, 27612
T +1 919 781-4550
Industry Building Materials
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 10,000

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