QUOTE AND NEWS
TheStreet.com  Jul 10  Comment 
NEW YORK (TheStreet) -- Goldman Sachs added Martin Marietta Materials  to its Conviction Buy List and set a $159 price target. The firm believes the company is leveraged to higher domestic non-residential and public construction. The stock was...
Market Intelligence Center  Jul 3  Comment 
After closing Wednesday at $127.06, Martin Marietta Materials Inc. (MLM) presents an attractive opportunity to get a 5.17% return in just 107 days, which is an annualized return of 17.62% (for comparison purposes only). To enter this trade, sell...
Benzinga  Jul 3  Comment 
In a report published Thursday, D.A. Davidson & Co. analyst Brent Thielman reiterated a Neutral rating on Martin Marietta Materials (NYSE: MLM), and raised the price target from $125.00 to $130.00. In the report, D.A. Davidson & Co. noted,...
Forbes  Jul 2  Comment 
Topping the list of stocks with abnormal volume in yesterday's trading is Martin Marietta Materials (NYSE: MLM), with 26.0x normal volume. In the prior session, MLM traded 18.48 million shares, versus normal volume of approximately 712,167. Martin...
newratings.com  Jun 28  Comment 
WASHINGTON (dpa-AFX) - S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, Inc. (MHFI), said Friday that S&P MidCap 400 constituent Martin Marietta Materials (MLM) will replace United States Steel Corp. (X) in the S&P 500 index. United...
Wall Street Journal  Jun 27  Comment 
Martin Marietta Materials Inc. will replace United States Steel Corp. in the S&P 500 index after the market closes July 1, according to Standard & Poor's.
StreetInsider.com  Jun 27  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Martin+Marietta+%28MLM%29%2C+Texas+Industries+%28TXI%29+Affirm+Pact+with+DoJ%3B+Will+Divest+Certain+Assets/9620247.html for the full story.
Wall Street Journal  Jun 26  Comment 
U.S. regulators said they would require Martin Marietta to divest some assets in Oklahoma and Texas to complete its deal to buy Texas Industries.
SeekingAlpha  Jun 23  Comment 
By Rogier van Vlissingen: Herbalife (HLF) is not alone, and while the current investigations may turn up issues that are unique to Herbalife, the company seems destined to be the poster child for what is wrong with the MLM "industry." After three...
DailyFinance  Jun 23  Comment 
Martin Marietta Materials, Inc. (“Martin Marietta”) (NYSE:MLM) today announced that it expects to enter into an agreement with the U.S. Department of Justice (“DOJ”) that will resolve all competition issues with...




 

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]

Competition

Competitors

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:



References

  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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