Martin Marietta Materials Stock (NYSE: MLM)

Martin Marietta Materials (NYSE:MLM) Stock, Quote.Headers.trade-ideas

Martin Marietta Materials

Martin Marietta Materials is one of the United States' largest producer of construction aggregates (crushed stone, sand, and gravel). In 2023, Martin Marietta sold 199 million tons of aggregates. Martin Marietta's most important markets include Texas, Colorado, North Carolina, Georgia, and Florida, accounting for most of its sales. The company also produces cement in Texas and uses its aggregates in its asphalt and ready-mixed concrete businesses. Martin's magnesia specialties business produces magnesia-based chemical products and dolomitic lime.

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Martin Marietta Materials, Inc. Common Stock

Martin Marietta Materials Inc

MCFARLANE LAKE MINING LTD by McFarlane Lake Mining Limited

McFarlane Lake Mining Ltd

MILLENNIUM PRIME INC by Millennium Prime, Inc.

Millennium Prime Inc

Metallica Minerals Ltd

Martin Marietta Materials's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) short percent of float has fallen 8.97% since its last report. The company recently reported that it has 1.42 million shares sold short, which is 2.64% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.67 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Martin Marietta Materials Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736532921_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Martin Marietta Materials has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Martin Marietta Materials's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Martin Marietta Materials's peer group average for short interest as a percentage of float is 4.01%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Martin Marietta Materials?

Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) has outperformed the market over the past 10 years by 5.36% on an annualized basis producing an average annual return of 16.77%. Currently, Martin Marietta Materials has a market capitalization of $31.60 billion. 
Buying $100 In MLM: If an investor had bought $100 of MLM stock 10 years ago, it would be worth $465.74 today based on a price of $516.99 for MLM at the time of writing.
<h3>Martin Marietta Materials's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736262910_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Martin Marietta Materials 10 Years Ago Would Be Worth Today

Citigroup analyst Anthony Pettinari maintains Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) with a Buy and lowers the price target from $701 to $600.

Price Target

Citigroup Maintains Buy on Martin Marietta Materials, Lowers Price Target to $600

Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) has outperformed the market over the past 10 years by 5.78% on an annualized basis producing an average annual return of 17.0%. Currently, Martin Marietta Materials has a market capitalization of $32.89 billion. 
Buying $1000 In MLM: If an investor had bought $1000 of MLM stock 10 years ago, it would be worth $4,762.66 today based on a price of $538.09 for MLM at the time of writing.
<h3>Martin Marietta Materials's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1735072209_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Martin Marietta Materials 10 Years Ago Would Be Worth This Much Today

Morgan Stanley analyst Angel Castillo maintains Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) with a Overweight and lowers the price target from $657 to $622.

Morgan Stanley Maintains Overweight on Martin Marietta Materials, Lowers Price Target to $622

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>JP Morgan analyst Adrian Heurta upgraded the rating for Martin Marietta Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) from Neutral to Overweight and raised the price target from $515 to $640. Martin Marietta Materials shares closed at $596.97 on Tuesday. <a href="https://www.benzinga.com/quote/MLM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Paul Lejuez upgraded Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) from Neutral to Buy and raised the price target from $42 to $59. Urban Outfitters shares closed at $40.14 on Tuesday. <a href="https://www.benzinga.com/quote/URBN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS analyst Michael Lasser upgraded the rating for Dick&#8217;s Sporting Goods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) from Neutral to Buy and increased the price target from $225 to $260. Dick&#8217;s Sporting Goods shares closed at $212.22 on Tuesday. <a href="https://www.benzinga.com/quote/DKS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>BTIG analyst Marie Thibault upgraded the rating for Embecta Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) from Neutral to Buy and announced a $26 price target. Embecta shares closed at $18.70 on Tuesday. <a href="https://www.benzinga.com/quote/EMBC/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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This Dick's Sporting Goods Analyst Turns Bullish; Here Are Top 4 Upgrades For Wednesday

Providing a diverse range of perspectives from bullish to bearish, 6 analysts have published ratings on Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) in the last three months.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">3</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $640.83, a high estimate of $730.00, and a low estimate of $515.00. Observing a 9.73% increase, the current average has risen from the previous average price target of $584.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1732708847_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The perception of Martin Marietta Materials by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Adrian Heurta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$640.00</td>
<td>$515.00</td>
</tr>
<tr>
<td>Steven Fisher</td>
<td>UBS</td>
<td>Announces</td>
<td>Buy</td>
<td>$730.00</td>
<td>-</td>
</tr>
<tr>
<td>Garik Shmois</td>
<td>Loop Capital</td>
<td>Raises</td>
<td>Buy</td>
<td>$680.00</td>
<td>$600.00</td>
</tr>
<tr>
<td>Adam Seiden</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$645.00</td>
<td>$595.00</td>
</tr>
<tr>
<td>Philip Ng</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$635.00</td>
<td>$650.00</td>
</tr>
<tr>
<td>Adrian Heurta</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$515.00</td>
<td>$560.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Martin Marietta Materials. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Martin Marietta Materials compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Martin Marietta Materials's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Martin Marietta Materials's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/MLM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Martin Marietta Materials analyst ratings.</a>
<h2>Get to Know Martin Marietta Materials Better</h2>
Martin Marietta Materials is one of the United States' largest producer of construction aggregates (crushed stone, sand, and gravel). In 2023, Martin Marietta sold 199 million tons of aggregates. Martin Marietta's most important markets include Texas, Colorado, North Carolina, Georgia, and Florida, accounting for most of its sales. The company also produces cement in Texas and uses its aggregates in its asphalt and ready-mixed concrete businesses. Martin's magnesia specialties business produces magnesia-based chemical products and dolomitic lime.
<h3>Martin Marietta Materials's Financial Performance</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Martin Marietta Materials's revenue growth over a period of 3 months has faced challenges. As of 30 September, 2024, the company experienced a revenue decline of approximately -5.27%. This indicates a decrease in the company's top-line earnings. When compared to others in the Materials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Martin Marietta Materials's net margin is impressive, surpassing industry averages. With a net margin of 19.22%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Martin Marietta Materials's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 4.03%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Martin Marietta Materials's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 2.21%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Martin Marietta Materials's debt-to-equity ratio is below the industry average at 0.48, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 6 Analyst Projections For Martin Marietta Materials

JP Morgan analyst Adrian Heurta upgrades Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) from Neutral to Overweight and raises the price target from $515 to $640.

JP Morgan Upgrades Martin Marietta Materials to Overweight, Raises Price Target to $640

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58072986846faa000106abc6/joseph-moore">Morgan Stanley analyst Joseph Moore</a> initiated coverage on Allegro MicroSystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGM#NASDAQ">ALGM</a>) with an Equal-Weight rating and announced a price target of $21. Allegro Microsystems shares closed at $22.01 on Wednesday. <a href="https://www.benzinga.com/quote/ALGM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS analyst Steven Fisher initiated coverage on Vulcan Materials Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMC#NYSE">VMC</a>) with a Buy rating and announced a price target of $349. Vulcan Materials shares closed at $290.45 on Wednesday. <a href="https://www.benzinga.com/quote/VMC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586e4054351b9b00018beea0/julien-dumoulin-smith">Jefferies analyst Julien Dumoulin-Smith</a> initiated coverage on Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>) with a Buy rating and announced a price target of $93. Crocs shares closed at $81.17 on Wednesday. <a href="https://www.benzinga.com/quote/EIX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS analyst Steven Fisher initiated coverage on Martin Marietta Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) with a Buy rating and announced a price target of $730. Martin Marietta Materials shares closed at $617.31 on Wednesday. <a href="https://www.benzinga.com/quote/MLM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Maxim Group analyst Jason McCarthy initiated coverage on Quince Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNCX#NASDAQ">QNCX</a>) with a Buy rating and announced a price target of $6. Quince Therapeutics shares closed at $1.46 on Wednesday. <a href="https://www.benzinga.com/quote/QNCX/analyst-ratings">See how other analysts view this stock.</a></li>
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UBS analyst Steven Fisher initiates coverage on Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) with a Buy rating and announces Price Target of $730.

UBS Initiates Coverage On Martin Marietta Materials with Buy Rating, Announces Price Target of $730

This year&#8217;s <a href="https://www.benzinga.com/markets/esg/24/05/39012013/noaa-meteorologists-predict-aggressive-hurricane-season-what-it-means-for-home-depot-generac-other-s">hurricane season </a>is a deadly one for the eastern and Gulf Coast of the U.S. Several companies and ETFs could be affected by another tropical storm nearing the Gulf Coast.
The Storm: Tropical Storm Rafael, the 17th named storm of the 2024 season, formed in the Caribbean, <a href="https://www.nbcnews.com/weather/hurricanes/tropical-storm-rafael-forms-expected-hurricane-rcna178632">according</a> to NBC.
The storm passed by Jamaica on Tuesday. It is expected to strengthen into a hurricane on Tuesday near the Cayman Islands and pass over Western Cuba. From there, it will likely weaken into a tropical storm before making landfall near New Orleans. The path may change drastically before impacting the U.S.
The heaviest rain of up to 10 inches is expected in Jamaica.
Market Impacts: With a projected path in the Gulf of Mexico, Rafael could disrupt offshore oil and gas production, which could impact companies operating there.
Potentially affected stocks include major energy companies like Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), and Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and ETFs like SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) and Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Storms in the Gulf of Mexico can also disrupt refining operations, which could impact refiners such as Marathon Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) and Valero Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>).
Construction companies like Vulcan Materials Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMC#NYSE">VMC</a>) and Martin Marietta Materials Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) might benefit from increased demand for repairs and rebuilding.
Recent extreme weather activity is linked to climate change. Hurricanes, which will become even more frequent over time, may encourage homeowners to purchase home generators. Generac Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) is the largest producer of home generators in the U.S.
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Photo: Tropical Storm Rafael, 11.5.2024. Courtesy NOAA/Public Domain

Offerings

Martin Marietta Reports Pricing Of Its Offering Of $750M Of 5.150% Senior Notes Due 2034 And $750M Of 5.500% Senior Notes Due 2054

Loop Capital analyst Garik Shmois maintains Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) with a Buy and raises the price target from $600 to $680.

Loop Capital Maintains Buy on Martin Marietta Materials, Raises Price Target to $680

WIIM

Martin Marietta Materials shares are trading higher. The company reported Q3 financial results.

Martin Marietta Materials Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) reported a&nbsp;third-quarter revenue decline of&nbsp;5% to&nbsp;$1.889 billion,&nbsp;missing the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41620752/martin-marietta-reports-third-quarter-2024-results" rel="noreferrer noopener">consensus of&nbsp;$1.934 billion</a>.
Gross profit was&nbsp;$599 million (-11%), and the margin contracted to&nbsp;32%&nbsp;from&nbsp;34% a year ago.&nbsp;
Building Materials business revenue was&nbsp;$1.8 billion (-6%), and the corresponding gross profit was&nbsp;$588&nbsp;million (-9%).
Aggregate shipments decreased by&nbsp;3.9%&nbsp;to 53.7&nbsp;million tons, while the average selling price increased by&nbsp;7.7% (or&nbsp;8.9%&nbsp;on an organic mix-adjusted basis) to $21.52 per ton.
Adjusted EBITDA declined&nbsp;8% to&nbsp;$646 million in the quarter. EPS&nbsp;fell 15% to&nbsp;$5.91, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missing the consensus of&nbsp;$6.32</a>.
Martin Marietta&#8217;s operating cash flow for the nine months stood at&nbsp;$773&nbsp;million, compared with&nbsp;$973&nbsp;million for the prior year.
The company held&nbsp;$52&nbsp;million of cash and cash equivalents and&nbsp;$1.1 billion of unused borrowing capacity on its existing credit facilities as of September&nbsp;30, 2024.
The company returned&nbsp;$591&nbsp;million to shareholders through dividend payments and share repurchases during the nine-months. As of September&nbsp;30, there were 11.9 million shares remaining under the current repurchase authorization.
Martin Marietta CEO&nbsp;Ward Nye said, &#8220;Significant July precipitation together with Tropical Storm Debby in North Carolina, Hurricane Beryl in Texas and Hurricane Helene across much of our Southeast footprint all occurred during the quarter.&#8221;
&#8220;Although these events are short-term and temporary, they nonetheless adversely impacted our&nbsp;third-quarter&nbsp;product shipments, geographic mix and financial results..,&#8221; Nye added.
<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">2024&nbsp;Guidance Revised</a>: Martin Marietta Materials lowered revenues to&nbsp;$6.450 billion -$6.705 billion (from $6.50 billion &#8211; $6.94 billion)&nbsp;vs. consensus&nbsp;$6.61 billion and adjusted EBITDA to&nbsp;$2.015 billion-$2.115 billion <a target="_blank" href="https://www.benzinga.com//node/40252844" rel="noreferrer noopener">(from&nbsp;$2.10 billion &#8211; $2.30&nbsp;billion prior)</a>.
The company now expects average selling price growth of&nbsp;9.0% &#8211; 11.0% for Aggregates.&nbsp;
Nye added, &#8220;Looking ahead to 2025 and beyond, we expect to benefit from record levels of federal and state investments in highways, streets and bridges. Additionally, reshoring and the build-out of artificial intelligence infrastructure should provide steady growth in these aggregates-intensive end markets for years to come.&#8221;
&#8220;Further, although higher interest rates continue to affect residential construction activity, we are encouraged by recent Federal Reserve policy actions and the likelihood of more interest rate cuts later this year, which should support a recovery in housing and, subsequently, light nonresidential construction activity.&#8221;
&#8220;Importantly, we fully expect our aggregates price/cost spread to continue to expand over time, driving improvement in unit profitability through macroeconomic cycles.&#8221;
Investors can gain exposure to the stock via&nbsp;TCW Transform Supply Chain ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPP#NYSE">SUPP</a>) and&nbsp;Invesco Building &amp; Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKB#NYSE">PKB</a>).
Price Action: MLM shares are up 2.62% at $599.15 at the last check Wednesday.
Read Next:
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Earnings

Large Cap

Guidance

Movers

PowerShares ETF Trust Dynamic Building &nstruction Portfolio

SUPP

Martin Marietta Faces Headwinds: Q3 Revenue Declines Amid Severe Weather Impacts, Revises Outlook

Revised Full-Year 2024 Guidance
The Company's 2024 revised guidance below includes all acquisitions completed through September 30, 2024, as of their respective closing dates.
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="8">2024 GUIDANCE</td>
</tr>
<tr>
<td>(Dollars in Millions)</td>
<td colspan="2">Low &#x2A;</td>
<td colspan="2">High &#x2A;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Consolidated</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Revenues1</td>
<td>$</td>
<td>6,450</td>
<td>$</td>
<td>6,705</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Interest expense, net of interest income</td>
<td>$</td>
<td>130</td>
<td>$</td>
<td>140</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Estimated tax rate2</td>
<td>22.5</td>
<td>%</td>
<td>23.5</td>
<td>%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Net earnings from continuing operations attributable to Martin Marietta3,4</td>
<td>$</td>
<td>1,960</td>
<td>$</td>
<td>2,020</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Adjusted EBITDA5</td>
<td>$</td>
<td>2,015</td>
<td>$</td>
<td>2,115</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Capital expenditures</td>
<td>$</td>
<td>850</td>
<td>$</td>
<td>900</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Building Materials Business</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Aggregates</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Volume % change6</td>
<td>(4.0</td>
<td>)%</td>
<td>(2.5</td>
<td>)%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>ASP % change7</td>
<td>9.0</td>
<td>%</td>
<td>11.0</td>
<td>%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Gross profit4</td>
<td>$</td>
<td>1,410</td>
<td>$</td>
<td>1,470</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Cement, Ready Mixed Concrete and Asphalt and Paving</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Gross profit</td>
<td>$</td>
<td>360</td>
<td>$</td>
<td>385</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Magnesia Specialties Business</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Gross profit</td>
<td>$</td>
<td>105</td>
<td>$</td>
<td>110</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
</tbody>
</table>
</figure>

Martin Marietta Materials Lowers FY24 Sales Guidance from $6.50B-$6.94B to $6.45B-$6.71B Vs. $6.61B Estimate

Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) reported quarterly earnings of $5.91 per share which missed the analyst consensus estimate of $6.32 by 6.49 percent. This is a 14.84 percent decrease over earnings of $6.94 per share from the same period last year. The company reported quarterly sales of $1.889 billion which missed the analyst consensus estimate of $1.934 billion by 2.32 percent. This is a 5.27 percent decrease over sales of $1.994 billion the same period last year.

Earnings Misses

Martin Marietta Materials Q3 2024 GAAP EPS $5.91 Misses $6.32 Estimate, Sales $1.889B Miss $1.934B Estimate

Analysts' ratings for Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) over the last quarter vary from bullish to bearish, as provided by 8 analysts.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $624.12, a high estimate of $670.00, and a low estimate of $515.00. This current average represents a 1.19% decrease from the previous average price target of $631.62. 
<img src="https://www.benzinga.com/files/images/story/2024/1730210502_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A comprehensive examination of how financial experts perceive Martin Marietta Materials is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Adam Seiden</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$645.00</td>
<td>$595.00</td>
</tr>
<tr>
<td>Philip Ng</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$635.00</td>
<td>$650.00</td>
</tr>
<tr>
<td>Adrian Heurta</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$515.00</td>
<td>$560.00</td>
</tr>
<tr>
<td>Angel Castillo</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$657.00</td>
<td>$610.00</td>
</tr>
<tr>
<td>Garik Shmois</td>
<td>Loop Capital</td>
<td>Lowers</td>
<td>Buy</td>
<td>$615.00</td>
<td>$630.00</td>
</tr>
<tr>
<td>Anthony Pettinari</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$646.00</td>
<td>$658.00</td>
</tr>
<tr>
<td>Trey Grooms</td>
<td>Stephens &amp; Co.</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$610.00</td>
<td>$650.00</td>
</tr>
<tr>
<td>Keith Hughes</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$670.00</td>
<td>$700.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Martin Marietta Materials. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Martin Marietta Materials compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Martin Marietta Materials's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into Martin Marietta Materials's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/MLM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Martin Marietta Materials analyst ratings.</a>
<h2>Unveiling the Story Behind Martin Marietta Materials</h2>
Martin Marietta Materials is one of the United States' largest producer of construction aggregates (crushed stone, sand, and gravel). In 2023, Martin Marietta sold 199 million tons of aggregates. Martin Marietta's most important markets include Texas, Colorado, North Carolina, Georgia, and Florida, accounting for most of its sales. The company also produces cement in Texas and uses its aggregates in its asphalt and ready-mixed concrete businesses. Martin's magnesia specialties business produces magnesia-based chemical products and dolomitic lime.
<h3>Unraveling the Financial Story of Martin Marietta Materials</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Negative Revenue Trend: Examining Martin Marietta Materials's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -3.13% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Materials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Martin Marietta Materials's net margin is impressive, surpassing industry averages. With a net margin of 16.67%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Martin Marietta Materials's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 3.32%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Martin Marietta Materials's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.81%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.54.
<h2>The Basics of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Evaluating Martin Marietta Materials: Insights From 8 Financial Analysts

Barclays analyst Adam Seiden maintains Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) with a Overweight and raises the price target from $595 to $645.

Barclays Maintains Overweight on Martin Marietta Materials, Raises Price Target to $645

Martin Marietta Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) has outperformed the market over the past 20 years by 4.7% on an annualized basis producing an average annual return of 13.17%. Currently, Martin Marietta Materials has a market capitalization of $34.48 billion. 
Buying $1000 In MLM: If an investor had bought $1000 of MLM stock 20 years ago, it would be worth $11,813.40 today based on a price of $564.09 for MLM at the time of writing.
<h3>Martin Marietta Materials's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729785979_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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