MLM
Martin Marietta Materials Inc
Industrial/Transportation
06/25/2015
Presented
| Date | 06/22/2015 |
| Price | $148.48 |
| Market Cap | N/A |
| Ent Value | $11.55B |
| P/E Ratio | 51.2x |
| Book Value | $64.33 |
| Div Yield | 1.08% |
| Shares O/S | 67.48M |
| Ave Daily Vol | 830,000 |
| Short Int | 6.97% |
Current
| Price | $561.89 |
| Market Cap | $34.34B |
| Martin Marietta Materials, Inc., together with its subsidiaries, supplies aggregates products and heavy building materials for the construction industry in the United States and internationally. It operates through Mid-America Group, Southeast Group, West Group, Cement, and Magnesia Specialties segments. The company mines, processes, and sells granite, limestone, sand, gravel, and other aggregate products for use in the public infrastructure, and nonresidential and residential construction industries, as well as in the agriculture, railroad ballast, chemical, and other applications. It also offers asphalt products, ready mixed concrete, and road paving construction services; and produces Portland and specialty cements, such as masonry and oil well cements for use in infrastructure projects, and nonresidential and residential construction, as well as in the railroad, agricultural, utility, and environmental industries. In addition, the company manufactures and markets magnesia-based chemical products for the industrial, agricultural, and environmental applications; and dolomitic lime primarily for use in the steel industry. Its chemical products are used in flame retardants, wastewater treatment, pulp and paper production, and other environmental applications. Martin Marietta Materials, Inc. was founded in 1993 and is headquartered in Raleigh, North Carolina. |
Public companies mentioned in the summary notes: Martin Marietta Materials Inc. (MLM) and Vulcan Materials (VMC)
Highlights
The presenter is long shares of Martin Marietta, one of the largest producers of construction aggregates in the US, principally on the thesis that the company is in the early stages of a recovery in its main end markets. Public infrastructure represents about 55% of MLM’s revenues, while non-residential and residential construction account for 30% and 15% of sales, respectively. Each of these segments is growing, but public infrastructure in particular has begun to inflect, with volumes having increased by around 10-12% and pricing up 10% over the past year. Operating in a fragmented market that continues to consolidate and become more rational in pricing, MLM last year shipped 137 million tons of aggregates versus its past peak of 205 million tons.
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