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Martin Marietta Materials - MLM STOCK NEWS

Welcome to our dedicated page for Martin Marietta Materials news (Ticker: MLM), a resource for investors and traders seeking the latest updates and insights on Martin Marietta Materials stock.

Martin Marietta Materials, Inc. (NYSE: MLM) is an American company and a member of the S&P 500 Index. It stands as one of the leading suppliers of aggregates and heavy building materials, with operations spanning 36 states, Canada, and the Caribbean. The company’s core business involves the production and supply of construction aggregates such as crushed stone, sand, and gravel. In 2023, Martin Marietta managed to sell an impressive 199 million tons of aggregate materials.

Additionally, Martin Marietta produces cement in Texas and integrates its aggregates into its asphalt and ready-mixed concrete operations. The company's significant markets include Texas, Colorado, North Carolina, Georgia, and Florida, which constitute the majority of its sales.

Martin Marietta's Magnesia Specialties business unit produces a diverse array of products including magnesium oxide, magnesium hydroxide, and dolomitic lime. These products find applications in various industries such as environmental, industrial, agricultural, and specialty sectors worldwide.

Recently, the company has been making headlines with key strategic moves. In November 2023, Martin Marietta announced an agreement to sell its South Texas cement business and related concrete operations to CRH Americas Materials, Inc. for $2.1 billion. This sale includes the Hunter cement plant, related distribution terminals, and 20 concrete plants in the Austin and San Antonio regions. This decision aligns with the company’s SOAR (Strategic Operating Analysis and Review) 2025 objectives aiming to optimize its portfolio and maximize stakeholder value.

Furthermore, Martin Marietta has been recognized as the “Undervalued Stock” in BetterInvesting Magazine’s March 2024 issue, reflecting its potential for growth and value in the market. The company also maintains a robust financial position, boasting $1.27 billion in unrestricted cash and cash equivalents as of December 31, 2023.

In May 2024, Martin Marietta entered into an agreement with Albemarle Corporation to process and sell extracted limestone material from Albemarle's Kings Mountain Mine project. This initiative underscores Martin Marietta's commitment to sustainable resource management and environmental stewardship.

With a dedicated team and extensive network of operations, Martin Marietta continues to supply essential materials for building solid foundations on which communities thrive.

News

Martin Marietta Completes Acquisition of Aggregates Operations From Affiliates of Blue Water Industries LLC and Announces First-Quarter 2024 Earnings Conference Call

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Martin Marietta Materials, Inc. (NYSE: MLM) completes a $2.05 billion cash acquisition of 20 active aggregates operations, enhancing its product mix and margin profile. The acquisition strengthens its presence in the southeast region, with expected annualized EBITDA of over $180 million.
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Martin Marietta Declares Quarterly Cash Dividend

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Martin Marietta Materials, Inc. (NYSE: MLM) declares a quarterly cash dividend of $0.74 per share, totaling $2.96 annually. The payment is scheduled for March 28, 2024, benefiting shareholders of record by March 4, 2024. Martin Marietta, a key player in building materials, operates across 28 states, Canada, and The Bahamas, with a focus on supplying essential resources for community development.
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Martin Marietta Reports Fourth-Quarter and Full-Year 2023 Results

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Martin Marietta Materials, Inc. (NYSE: MLM) achieved full-year records for revenues, profitability, and safety performance in 2023. The company reported impressive financial highlights, including an 8.9% increase in total revenues, a 36.5% increase in gross profit, and a 41.1% increase in earnings from operations for the fourth quarter. Adjusted EBITDA improved by 28.3%, and earnings per diluted share from continuing operations rose by 53.8%. The CEO highlighted the success of the value-over-volume commercial strategy, leading to a 46.4% improvement in aggregates unit profitability. The company's strategic acquisitions and strong balance sheet position it well for continued growth in 2024.
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Martin Marietta Announces Acquisition of Aggregates Operations From Affiliates of Blue Water Industries LLC; Company Also Completes South Texas Cement and Concrete Divestiture

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Martin Marietta Materials, Inc. (MLM) announces acquisition of 20 aggregates operations for $2.05 billion and divestiture of South Texas operations for $2.1 billion. The transactions aim to enhance product mix, margin profile, and durability, supporting future growth. The acquisitions are in line with the SOAR 2025 strategy, expanding into new markets like Nashville and Miami, with expected annualized EBITDA of over $180 million.
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Martin Marietta Announces Fourth-Quarter and Full-Year 2023 Earnings Conference Call

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Martin Marietta Materials, Inc. (NYSE: MLM) will host its Q4 and full-year 2023 earnings conference call on February 14, 2024. The company will release results for the quarter and year ended December 31, 2023, before the market opens. Martin Marietta is a leading supplier of building materials and operates in 28 states, Canada, and The Bahamas. The company's Magnesia Specialties business provides magnesium oxide, magnesium hydroxide, and dolomitic lime products.
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Martin Marietta Completes Acquisition of Albert Frei & Sons, Inc.

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Martin Marietta Materials, Inc. (NYSE: MLM) has completed the acquisition of Albert Frei & Sons, Inc., a leading aggregates producer in Colorado. The transaction closed on January 12, 2024, and is expected to enhance the company's aggregates platform in the high-growth Denver metropolitan area. The acquisition provides over 60 years of high-quality, hard rock reserves to better serve customers and is projected to be immediately accretive to earnings, margins, and cash flow.
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BetterInvesting™ Magazine Update on Vertex Pharmaceuticals Inc. and Martin Marietta Materials Inc.

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BetterInvesting Magazine names Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) as 'Stock to Study' and Martin Marietta Materials Inc. (NYSE: MLM) as 'Undervalued Stock' in the March 2024 issue. The S&P500 Index gained over 26% in 2023, with individual stocks having a significant impact. Ken Zendel, CEO of National Association of Investors, emphasizes the importance of understanding individual stocks and their performance for investors.
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Martin Marietta to Divest South Texas Cement and Related Concrete Operations to CRH plc

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Martin Marietta Materials, Inc. (NYSE: MLM) has entered into a definitive agreement to sell its South Texas cement business and certain related concrete operations to CRH Americas Materials, Inc. for $2.1 billion in cash. The facilities to be divested include the Hunter cement plant in New Braunfels, related cement distribution terminals, and 20 concrete plants serving the Austin and San Antonio region. The transaction is expected to close in the first half of 2024, subject to regulatory approvals and other customary closing conditions.
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Martin Marietta Declares Quarterly Cash Dividend

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Martin Marietta Materials, Inc. (NYSE: MLM) announced a regular quarterly cash dividend of $0.74 per share, payable on December 29, 2023, to shareholders of record at the close of business on December 1, 2023. The dividend represents a cash dividend of $2.96 per share on an annualized basis. Martin Marietta is a leading supplier of building materials and a member of the S&P 500 Index.
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Martin Marietta Reports Third-Quarter 2023 Results

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Martin Marietta Materials, Inc. (NYSE: MLM) reported record quarterly consolidated revenues, profitability, and margins. Gross profit per ton increased by 42.4% to $7.89. Adjusted EBITDA increased by 32.3%. The Building Materials business generated record revenues of $1.9 billion, with aggregates shipments decreasing by 7.3%. The Magnesia Specialties business had flat revenues but saw a 3.6% increase in gross profit. The company achieved strong cash generation and had $647.6 million of unrestricted cash and cash equivalents on hand as of September 30, 2023. The company raised its full-year 2023 guidance.
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FAQ

What is the current stock price of Martin Marietta Materials (MLM)?

The current stock price of Martin Marietta Materials (MLM) is $585.26 as of November 20, 2024.

What is the market cap of Martin Marietta Materials (MLM)?

The market cap of Martin Marietta Materials (MLM) is approximately 35.4B.

What does Martin Marietta Materials do?

Martin Marietta Materials is a leading supplier of aggregates and heavy building materials, including crushed stone, sand, gravel, and cement. The company operates in 36 states, Canada, and the Caribbean.

What is Martin Marietta’s core market?

The company's most important markets include Texas, Colorado, North Carolina, Georgia, and Florida.

What recent acquisition has Martin Marietta made?

In November 2023, Martin Marietta announced the sale of its South Texas cement business and related concrete operations to CRH Americas Materials for $2.1 billion.

What products are offered by Martin Marietta’s Magnesia Specialties business?

Martin Marietta’s Magnesia Specialties business produces magnesium oxide, magnesium hydroxide, and dolomitic lime products.

What is Martin Marietta’s financial position?

As of December 31, 2023, Martin Marietta had $1.27 billion in unrestricted cash and cash equivalents and $1.20 billion of unused borrowing capacity on its credit facilities.

What recognition did Martin Marietta receive in BetterInvesting Magazine?

Martin Marietta was named the 'Undervalued Stock' in BetterInvesting Magazine’s March 2024 issue.

What strategic initiative is Martin Marietta undertaking with Albemarle Corporation?

In May 2024, Martin Marietta entered into an agreement with Albemarle Corporation to process and sell extracted limestone material from Albemarle's Kings Mountain Mine project.

What are Martin Marietta's SOAR 2025 objectives?

Martin Marietta's SOAR 2025 objectives aim to optimize its portfolio and product mix through asset purchases, exchanges, and divestitures to maximize stakeholder value.

Where does Martin Marietta operate?

Martin Marietta operates in 36 states, Canada, and the Caribbean.

What types of materials does Martin Marietta produce?

Martin Marietta produces construction aggregates, cement, asphalt, ready-mixed concrete, and magnesia-based chemical products.

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Martin Marietta Materials

NYSE:MLM

MLM Rankings

#355 Ranked by Market Cap
#2003 Ranked by Dividends

MLM Stock Data

35.44B
60.69M
0.7%
101.07%
2.55%
Building Materials
Mining & Quarrying of Nonmetallic Minerals (no Fuels)
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United States of America
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