After Falling 40% Year to Date, Martin Marietta Shares Spike 8% as Results Continue to Improve
Prior to fellow aggregate producer Vulcan Materials’ third-quarter earnings release last week, Martin Marietta’s share price had dropped more than 40% year to date. After its peer reported results and an outlook that were far more encouraging than the market had been pricing in, Martin Marietta’s share price increased slightly. After reporting third quarter earnings on Nov. 6, its shares rose another 8%, as the company’s positive results diverged from the bearish sentiment that has weighed on th...Martin Marietta Materials is a natural resource-based building materials company. The company supplies aggregates (crushed stone, sand and gravel) through its network of quarries, mines and distribution yards. The company also provides cement and downstream products, namely, ready mixed concrete, asphalt and paving services. The company conducts its Building Materials business through three segments: Mid-America Group, Southeast Group and West Group. The Mid-America and Southeast Groups provide aggregates products only. The West Group provides aggregates, cement and downstream products. The company also has the Magnesia Specialties segment, which includes its magnesia-based chemicals and dolomitic lime businesses.
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