Citi Raises PT on Martin Marietta Materials (MLM), Keeps a Buy Rating

Martin Marietta Materials, Inc. (NYSE:MLM) is 1 of the Best Cement Stocks to Buy For the Long Term. On March 2,  Citi expert Anthony Pettinari raised the firm’s terms people connected Martin Marietta Materials, Inc. (NYSE:MLM) from $780 to $804, portion maintaining a Buy rating. Earlier, connected February 26, Jefferies besides raised the terms people from $761 to $785 and maintained a Buy standing connected the stock.

​The bullish sentiment follows the company’s plus speech with Quikrete Holdings, Inc. connected February 23. As a effect of this deal, the institution acquired aggregates operations producing  roughly 20 cardinal tons per twelvemonth successful Virginia, Missouri, Kansas, and Vancouver, BC (Canada). The woody besides includes $450 cardinal successful cash. In return, Martin Marietta sold its Midlothian cement plant, related cement terminals, Texas ready-mixed factual plants, and immoderate non-core land.

​Analysts astatine Jefferies expect the institution to prosecute mergers and acquisitions to capable the spread created by the exchange. The steadfast besides noted that the woody dragged the company’s “price-to-mix” by 250 ground points successful 2026 arsenic the institution acquired little borderline aggregates successful speech for a precocious borderline cement business. However, the steadfast noted that the institution tin optimize the caller assets’ profitability to lucifer firm averages. The institution tin boost its gross nett by $50 cardinal and offset the drag.

​Martin Marietta Materials, Inc. (NYSE:MLM) is simply a starring US-based supplier of operation aggregates similar crushed stone, sand, and gravel, operating ~390 quarries, mines, and yards crossed 28 states, Canada, and The Bahamas.

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