SeekingAlpha  Apr 9  Comment 
Herbalife (HLF) investors were treated to some new sell-side research from Barclays this week. Analyst Meredith Adler issued a $94 price target. Recall, Herbalife produces financial metrics that put Procter and Gamble to shame. Evidently it...
SeekingAlpha  Mar 28  Comment 
By Rogier van Vlissingen: The Herbalife (HLF) show goes on. A brilliant piece of legal analysis on this site weighs in on the "illegal pyramid" thesis against Herbalife for the defense. It shows again that Gore Vidal was right, we're a country of...
DailyFinance  Mar 21  Comment 
LAS VEGAS, NV--(Marketwired - March 20, 2014) - The conference will be held May 15th & 16th 2014, which is quickly approaching! For more than 27 years, leading industry experts have educated the executives of starting and existing MLM, direct...
SeekingAlpha  Mar 17  Comment 
ByDouglas Brooks: (Editor's Note: The footnotes in this article have been linked directly when able, but a complete review of all footnotes is available at the end of the article.) The announcement on March 12, 2014, that Herbalife Ltd. (HLF) had...
TheStreet.com  Mar 5  Comment 
NEW YORK (The Deal) -- There is an outside chance that Martin Marietta Materials' $2.7 billion acquisition of fellow maker of concrete and building material aggregates Texas Industries  could receive antitrust approval as early as March...
StreetInsider.com  Feb 18  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Upgrades/CJS+Securities+Upgrades+Martin+Marietta+Materials+%28MLM%29+to+Market+Outperform/9184308.html for the full story.
The Economic Times  Feb 18  Comment 
The IMG has been constituted under the chairmanship of Additional Secretary (Financial Services) and has officials from the Reserve Bank and market regulator Sebi.
DailyFinance  Feb 13  Comment 
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Texas Industries Inc. (“Texas Industries” or the...
DailyFinance  Jan 31  Comment 
Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”), a leading securities law firm, announces that it is investigating the acquisition of Texas Industries, Inc. (“TXI” or “the Company”) (NYSE:TXI). The...
DailyFinance  Jan 31  Comment 
The Law Offices of Vincent Wong are investigating potential claims against the Board of Directors of Texas Industries, Inc. (NYSE: TXI) (“Texas Industries”) in connection with the sale of the Company to Martin Marietta...


Martin Marietta Materials (NYSE: MLM) is a producer of aggregates for the infrastructure, agricultural, nonresidential, and residential construction.[1]The company also produces other chemicals used in industrial, agricultural, and environmental applications.[2] The company is segmented into the Mideast Group, Southeast Group, and West Group, collectively the Aggregates business, and the Specialty Products segment. As a producer of aggregates, the company's revenues depend on the construction industry.[3]

Business Growth

Martin earned $97 million on 2010 revenues of $1.78 billion, versus $85 million on 2009 revenues $1.70 billion.[4] Growth depends on residential construction activity, which has the potential of growth. In addition, the price increases also resulted in revenue growth.

Trends & Forces

Martin's revenues depend heavily on new construction starts, aggregate sales

A majority of Martin's aggregate products are used in the construction industry, so the company's results depend in part on the strength of the construction industry.[5] The housing slump beginning in 2007 has negatively affected Martin's business as new home construction dropped, reducing the number of residential homes to be built (and supplied with aggregates).[6] While private residential construction is a small market for MLM, the severe downturn in activity hurts business.[7] In general, the ongoing economic slowdown is leading lower levels of construction activity. A prolonged period of slow construction activity has the potential of significant curtailing Martin's growth.[8]

Energy Prices Makes Operation and Transport More Costly

Martin requires a continued supply of diesel fuel, natural gas, coal, petroleum coke and other forms of energy for production. Increasing energy costs, then, negatively affect the production of Martin's aggregates.[9] As a result, the price of oil and other energy sources have a significant impact of the company's margin.[10]



Of the more than 3,800 aggregate companies in the United States, the company estimates that the five largest aggregates producers control control 31% of the market.[11]Due to transportation costs, competition in the aggregates industry is limited by a company's proximity to its production facilities. Some of the largest competitors are as follows:


  1. Reuters.com: Company Profile for Martin Marietta
  2. Reuters.com: Company Profile for Martin Marietta
  3. Reuters.com: Company Profile for Martin Marietta
  4. Morningstar Financials for Martin Marietta
  5. Martin Marietta 2010 Annual report
  6. Martin Marietta 2010 Annual report
  7. Martin Marietta 2010 Annual report
  8. Martin Marietta 2010 Annual report
  9. Martin Marietta 2010 Annual report
  10. Martin Marietta 2010 Annual report
  11. SEC, Martin Marietta Materials 10-K, pg. 10
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