Increasing Martin Marietta’s Fair Value Estimate Under Our Enhanced Cement Forecast
We’re introducing an enhanced methodology to forecast cement demand. Previously, we relied on the International Monetary Fund's forecasts for fixed-asset investment, or FAI, spending as an indicator for cement demand. However, this fails to account for declining cement intensity (cement demand per FAI dollar) as a country’s income rises, as investment spending shifts from roads and structures to equipment and technology. We now use a formula that takes into account three important factors for ce...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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