UPDATE: KeyBanc Initiates Martin Marietta Materials at Hold

KeyBanc is out with its report today on Martin Marietta Materials (NYSE: MLM), initiating MLM at Hold.

In its report, KeyBanc writes, "We think MLM has a good portfolio of businesses, led by aggregates with well positioned reserves and an established distribution network. Though currently facing challenging end markets, the Company's tight cost management provides for margin expansion on incremental volume, but we do not see a recovery in demand as a near-term catalyst. We therefore assign a HOLD rating at this time."

At the time of posting, shares of MLM were trading at $69.92, down 0.07% from Monday's close.