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.
Martin Marietta Materials has successfully acquired Lehigh Hanson’s West Region business for $2.3 billion. This strategic purchase includes 17 active aggregates facilities, two cement plants, and additional operations in key areas of California and Arizona, enhancing market presence in regions like the Bay Area and Phoenix. The acquisition is expected to be accretive to earnings per share within the first year, supporting Martin Marietta's growth strategy under its SOAR 2025 Plan.
Integration is anticipated to proceed smoothly.
Martin Marietta Materials (NYSE: MLM) has announced a 7% increase in its quarterly cash dividend, raising it from $0.57 to $0.61 per share. This translates to an annualized dividend of $2.44 per share, payable on September 30, 2021, to shareholders on record by September 1, 2021. The company emphasizes its strong cash generation and financial flexibility, which supports sustainable dividends while investing in growth opportunities. This aligns with Martin Marietta's commitment to enhancing shareholder value.
Martin Marietta reported record second-quarter revenues of $1,377.9 million, a 8.4% increase from 2020. Gross profit rose to $385.1 million, with earnings per diluted share at $3.61. Despite adverse weather impacting operations in Texas and Colorado, product demand grew, especially in the Building Materials segment, which saw a revenue increase of 7.4%. The company is on track to complete the Lehigh West Region acquisition in 2021, expecting it to enhance earnings per share. Full-year guidance estimates revenues between $4.705 to $4.850 billion.
Martin Marietta Materials (NYSE:MLM) will conduct its Q2 2021 earnings conference call on July 29, 2021, at 11:00 a.m. ET. Results for the quarter ending June 30, 2021, will be released prior to market opening. The conference call will be accessible via a live webcast on the investor site. For those without web access, a dial-in option is available. The company, a member of the S&P 500 Index, is a leading supplier of building materials across 26 states, Canada, and The Bahamas, offering products such as aggregates, cement, and ready mixed concrete.
Martin Marietta Materials (NYSE:MLM) has priced its offering of $2.5 billion in senior notes, comprising three series: $700 million of 0.650% due 2023, $900 million of 2.400% due 2031, and $900 million of 3.200% due 2051. The proceeds from the 2031 and 2051 notes are allocated for the acquisition of the Lehigh West Region Business, while the 2023 notes will finance general corporate purposes. The deal is expected to close on July 2, 2021. Deutsche Bank, J.P. Morgan, Truist, and Wells Fargo will serve as underwriters.
Martin Marietta Materials (NYSE: MLM) announced the acquisition of Lehigh Hanson's West Region for $2.3 billion in cash, aiming to enhance its geography and operations in high-growth megaregions of California and Arizona. This deal includes 17 active aggregates quarries and two cement plants, positioning Martin Marietta to accelerate growth in response to increased infrastructure investment. Expected to close in the second half of 2021, the transaction is anticipated to be accretive to earnings per share in the first full year.
On May 13, 2021, Martin Marietta Materials (NYSE: MLM) announced a quarterly cash dividend of $0.57 per share, translating to $2.28 annually. The dividend is payable on June 30, 2021, to shareholders on record by the close of business on June 1, 2021. Martin Marietta, a leading supplier of building materials, operates across 26 states, Canada, and The Bahamas, supporting community infrastructure.
Martin Marietta reported record first-quarter financial results for 2021, with consolidated revenues of $982.4 million and net earnings of $65.3 million, up from $25.9 million in the previous year. Earnings per diluted share rose to $1.04 from $0.41. The company credits solid operational performance and strong product demand for these results, despite disruptions from a severe winter storm. Additionally, Martin Marietta acquired Tiller Corporation, which is expected to enhance its aggregates business and contribute significantly to revenues and EBITDA in 2021.
Martin Marietta Materials, Inc. (NYSE:MLM) announced a Web simulcast of its Q1 2021 earnings conference call on May 4, 2021. The results for the quarter ending March 31, 2021, will be released prior to market opening. The live audio webcast starts at 11:00 a.m. ET, with a replay available for one year post-broadcast. Investors can join via telephone at 970-315-0423, entering confirmation number 7790405. Martin Marietta is a key player in the building materials sector, serving 26 states, Canada, and The Bahamas with aggregates, cement, and more.
Martin Marietta Materials, Inc. (NYSE: MLM) announced a regular quarterly cash dividend of $0.57 per share, amounting to an annualized cash dividend of $2.28 per share. This dividend will be payable on March 31, 2021, to shareholders recorded by the close of business on March 1, 2021. Martin Marietta is a leading supplier of building materials across 27 states, Canada, and The Bahamas, and is a member of the S&P 500 Index.
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