Intrinsic value of Martin Marietta Materials - MLM

Previous Close

$168.59

  Intrinsic Value

$83.53

stock screener

  Rating & Target

str. sell

-50%

Previous close

$168.59

 
Intrinsic value

$83.53

 
Up/down potential

-50%

 
Rating

str. sell

We calculate the intrinsic value of MLM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  13.10
  12.29
  11.56
  10.90
  10.31
  9.78
  9.30
  8.87
  8.49
  8.14
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.22
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
  5.38
Revenue, $m
  4,485
  5,036
  5,619
  6,231
  6,874
  7,546
  8,249
  8,981
  9,743
  10,536
  11,360
  12,217
  13,107
  14,032
  14,994
  15,994
  17,033
  18,115
  19,241
  20,414
  21,635
  22,909
  24,237
  25,623
  27,070
  28,581
  30,159
  31,809
  33,535
  35,339
Variable operating expenses, $m
  3,656
  4,073
  4,513
  4,976
  5,462
  5,970
  6,501
  7,054
  7,630
  8,229
  8,585
  9,233
  9,906
  10,605
  11,332
  12,087
  12,873
  13,691
  14,542
  15,428
  16,351
  17,314
  18,317
  19,365
  20,458
  21,600
  22,793
  24,040
  25,344
  26,708
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,656
  4,073
  4,513
  4,976
  5,462
  5,970
  6,501
  7,054
  7,630
  8,229
  8,585
  9,233
  9,906
  10,605
  11,332
  12,087
  12,873
  13,691
  14,542
  15,428
  16,351
  17,314
  18,317
  19,365
  20,458
  21,600
  22,793
  24,040
  25,344
  26,708
Operating income, $m
  829
  963
  1,106
  1,255
  1,412
  1,577
  1,748
  1,927
  2,113
  2,307
  2,775
  2,984
  3,201
  3,427
  3,662
  3,906
  4,160
  4,425
  4,700
  4,986
  5,284
  5,595
  5,920
  6,258
  6,612
  6,981
  7,366
  7,769
  8,191
  8,631
EBITDA, $m
  1,359
  1,526
  1,702
  1,888
  2,082
  2,286
  2,499
  2,721
  2,952
  3,192
  3,441
  3,701
  3,971
  4,251
  4,542
  4,845
  5,160
  5,488
  5,829
  6,184
  6,554
  6,940
  7,343
  7,762
  8,201
  8,658
  9,137
  9,637
  10,159
  10,706
Interest expense (income), $m
  74
  163
  192
  222
  254
  287
  322
  359
  398
  438
  479
  523
  568
  614
  663
  714
  766
  821
  878
  937
  998
  1,062
  1,129
  1,199
  1,271
  1,347
  1,426
  1,509
  1,595
  1,685
  1,779
Earnings before tax, $m
  665
  772
  884
  1,001
  1,125
  1,254
  1,389
  1,529
  1,675
  1,827
  2,252
  2,416
  2,587
  2,764
  2,949
  3,140
  3,340
  3,547
  3,763
  3,988
  4,222
  4,466
  4,721
  4,987
  5,265
  5,555
  5,858
  6,174
  6,506
  6,852
Tax expense, $m
  180
  208
  239
  270
  304
  339
  375
  413
  452
  493
  608
  652
  698
  746
  796
  848
  902
  958
  1,016
  1,077
  1,140
  1,206
  1,275
  1,346
  1,421
  1,500
  1,582
  1,667
  1,756
  1,850
Net income, $m
  486
  563
  645
  731
  821
  915
  1,014
  1,116
  1,223
  1,334
  1,644
  1,764
  1,888
  2,018
  2,152
  2,292
  2,438
  2,589
  2,747
  2,911
  3,082
  3,260
  3,446
  3,640
  3,843
  4,055
  4,276
  4,507
  4,749
  5,002

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  8,988
  10,093
  11,260
  12,487
  13,775
  15,123
  16,530
  17,997
  19,525
  21,114
  22,766
  24,482
  26,267
  28,121
  30,048
  32,051
  34,135
  36,303
  38,559
  40,909
  43,358
  45,910
  48,572
  51,349
  54,248
  57,276
  60,439
  63,746
  67,204
  70,820
Adjusted assets (=assets-cash), $m
  8,988
  10,093
  11,260
  12,487
  13,775
  15,123
  16,530
  17,997
  19,525
  21,114
  22,766
  24,482
  26,267
  28,121
  30,048
  32,051
  34,135
  36,303
  38,559
  40,909
  43,358
  45,910
  48,572
  51,349
  54,248
  57,276
  60,439
  63,746
  67,204
  70,820
Revenue / Adjusted assets
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
Average production assets, $m
  5,476
  6,149
  6,860
  7,608
  8,393
  9,214
  10,072
  10,965
  11,896
  12,864
  13,871
  14,917
  16,004
  17,133
  18,308
  19,528
  20,798
  22,119
  23,493
  24,925
  26,417
  27,972
  29,594
  31,286
  33,052
  34,897
  36,824
  38,839
  40,946
  43,149
Working capital, $m
  893
  1,002
  1,118
  1,240
  1,368
  1,502
  1,641
  1,787
  1,939
  2,097
  2,261
  2,431
  2,608
  2,792
  2,984
  3,183
  3,390
  3,605
  3,829
  4,062
  4,305
  4,559
  4,823
  5,099
  5,387
  5,688
  6,002
  6,330
  6,673
  7,033
Total debt, $m
  3,553
  4,111
  4,700
  5,320
  5,971
  6,651
  7,362
  8,103
  8,874
  9,677
  10,511
  11,378
  12,279
  13,215
  14,188
  15,200
  16,252
  17,347
  18,487
  19,673
  20,910
  22,199
  23,543
  24,945
  26,409
  27,939
  29,536
  31,206
  32,952
  34,778
Total liabilities, $m
  4,539
  5,097
  5,686
  6,306
  6,957
  7,637
  8,348
  9,089
  9,860
  10,662
  11,497
  12,364
  13,265
  14,201
  15,174
  16,186
  17,238
  18,333
  19,473
  20,659
  21,896
  23,184
  24,529
  25,931
  27,395
  28,924
  30,522
  32,192
  33,938
  35,764
Total equity, $m
  4,449
  4,996
  5,574
  6,181
  6,819
  7,486
  8,182
  8,909
  9,665
  10,451
  11,269
  12,119
  13,002
  13,920
  14,874
  15,865
  16,897
  17,970
  19,087
  20,250
  21,462
  22,725
  24,043
  25,418
  26,853
  28,352
  29,918
  31,554
  33,266
  35,056
Total liabilities and equity, $m
  8,988
  10,093
  11,260
  12,487
  13,776
  15,123
  16,530
  17,998
  19,525
  21,113
  22,766
  24,483
  26,267
  28,121
  30,048
  32,051
  34,135
  36,303
  38,560
  40,909
  43,358
  45,909
  48,572
  51,349
  54,248
  57,276
  60,440
  63,746
  67,204
  70,820
Debt-to-equity ratio
  0.800
  0.820
  0.840
  0.860
  0.880
  0.890
  0.900
  0.910
  0.920
  0.930
  0.930
  0.940
  0.940
  0.950
  0.950
  0.960
  0.960
  0.970
  0.970
  0.970
  0.970
  0.980
  0.980
  0.980
  0.980
  0.990
  0.990
  0.990
  0.990
  0.990
Adjusted equity ratio
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  486
  563
  645
  731
  821
  915
  1,014
  1,116
  1,223
  1,334
  1,644
  1,764
  1,888
  2,018
  2,152
  2,292
  2,438
  2,589
  2,747
  2,911
  3,082
  3,260
  3,446
  3,640
  3,843
  4,055
  4,276
  4,507
  4,749
  5,002
Depreciation, amort., depletion, $m
  530
  562
  596
  632
  670
  710
  751
  794
  839
  885
  667
  717
  769
  824
  880
  939
  1,000
  1,063
  1,129
  1,198
  1,270
  1,345
  1,423
  1,504
  1,589
  1,678
  1,770
  1,867
  1,969
  2,074
Funds from operations, $m
  1,016
  1,126
  1,242
  1,364
  1,491
  1,625
  1,765
  1,910
  2,062
  2,219
  2,311
  2,481
  2,658
  2,842
  3,033
  3,231
  3,438
  3,653
  3,876
  4,109
  4,352
  4,605
  4,869
  5,145
  5,432
  5,733
  6,046
  6,375
  6,718
  7,076
Change in working capital, $m
  103
  110
  116
  122
  128
  134
  140
  146
  152
  158
  164
  170
  177
  184
  191
  199
  207
  215
  224
  233
  243
  253
  264
  276
  288
  301
  314
  328
  343
  359
Cash from operations, $m
  912
  1,016
  1,126
  1,242
  1,364
  1,491
  1,625
  1,765
  1,910
  2,061
  2,147
  2,311
  2,481
  2,658
  2,841
  3,032
  3,231
  3,437
  3,652
  3,876
  4,109
  4,352
  4,605
  4,869
  5,144
  5,432
  5,732
  6,046
  6,374
  6,717
Maintenance CAPEX, $m
  -233
  -263
  -296
  -330
  -366
  -404
  -443
  -484
  -527
  -572
  -618
  -667
  -717
  -769
  -824
  -880
  -939
  -1,000
  -1,063
  -1,129
  -1,198
  -1,270
  -1,345
  -1,423
  -1,504
  -1,589
  -1,678
  -1,770
  -1,867
  -1,969
New CAPEX, $m
  -634
  -673
  -711
  -748
  -785
  -821
  -857
  -894
  -931
  -968
  -1,007
  -1,046
  -1,087
  -1,130
  -1,174
  -1,221
  -1,270
  -1,321
  -1,375
  -1,432
  -1,492
  -1,555
  -1,622
  -1,692
  -1,766
  -1,845
  -1,927
  -2,015
  -2,107
  -2,204
Cash from investing activities, $m
  -867
  -936
  -1,007
  -1,078
  -1,151
  -1,225
  -1,300
  -1,378
  -1,458
  -1,540
  -1,625
  -1,713
  -1,804
  -1,899
  -1,998
  -2,101
  -2,209
  -2,321
  -2,438
  -2,561
  -2,690
  -2,825
  -2,967
  -3,115
  -3,270
  -3,434
  -3,605
  -3,785
  -3,974
  -4,173
Free cash flow, $m
  46
  80
  119
  164
  213
  267
  325
  387
  452
  521
  522
  598
  676
  758
  843
  931
  1,022
  1,117
  1,214
  1,315
  1,419
  1,527
  1,638
  1,754
  1,874
  1,998
  2,127
  2,261
  2,400
  2,545
Issuance/(repayment) of debt, $m
  526
  558
  589
  620
  650
  681
  711
  741
  771
  802
  834
  867
  901
  936
  973
  1,012
  1,052
  1,095
  1,140
  1,187
  1,236
  1,289
  1,344
  1,403
  1,464
  1,529
  1,598
  1,670
  1,746
  1,826
Issuance/(repurchase) of shares, $m
  36
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  562
  558
  589
  620
  650
  681
  711
  741
  771
  802
  834
  867
  901
  936
  973
  1,012
  1,052
  1,095
  1,140
  1,187
  1,236
  1,289
  1,344
  1,403
  1,464
  1,529
  1,598
  1,670
  1,746
  1,826
Total cash flow (excl. dividends), $m
  608
  637
  708
  784
  863
  947
  1,035
  1,127
  1,224
  1,324
  1,356
  1,465
  1,577
  1,695
  1,817
  1,943
  2,075
  2,211
  2,354
  2,501
  2,655
  2,816
  2,982
  3,156
  3,338
  3,527
  3,725
  3,931
  4,146
  4,372
Retained Cash Flow (-), $m
  -522
  -547
  -578
  -608
  -638
  -667
  -697
  -726
  -756
  -787
  -818
  -850
  -883
  -918
  -954
  -992
  -1,031
  -1,073
  -1,117
  -1,163
  -1,212
  -1,263
  -1,318
  -1,375
  -1,435
  -1,499
  -1,566
  -1,637
  -1,711
  -1,790
Prev. year cash balance distribution, $m
  752
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  838
  91
  131
  176
  226
  280
  339
  401
  467
  537
  538
  615
  694
  777
  863
  951
  1,043
  1,138
  1,237
  1,338
  1,443
  1,552
  1,665
  1,782
  1,903
  2,028
  2,159
  2,294
  2,435
  2,581
Discount rate, %
  4.60
  4.83
  5.07
  5.33
  5.59
  5.87
  6.16
  6.47
  6.80
  7.14
  7.49
  7.87
  8.26
  8.67
  9.11
  9.56
  10.04
  10.54
  11.07
  11.62
  12.21
  12.82
  13.46
  14.13
  14.84
  15.58
  16.36
  17.17
  18.03
  18.93
PV of cash for distribution, $m
  801
  82
  113
  143
  172
  199
  223
  243
  259
  270
  243
  248
  247
  242
  233
  221
  205
  187
  168
  148
  129
  109
  91
  75
  60
  47
  36
  27
  20
  14
Current shareholders' claim on cash, %
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6

Martin Marietta Materials, Inc. is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications. The Company's Aggregates business operates through three segments: the Mid-America Group, Southeast Group and West Group. The Company's business is categorized into Aggregates Business, Cement Business and Magnesia Specialties Business. Its Cement business is reported through the Cement segment. Its Magnesia Specialties business manufactures and markets magnesia-based chemical products used in industrial, agricultural, and environmental applications, and dolomitic lime sold to customers in the steel industry. Its Cement business produces Portland and specialty cements. It manufactures and markets, through its Magnesia Specialties business, magnesia-based chemical products.

FINANCIAL RATIOS  of  Martin Marietta Materials (MLM)

Valuation Ratios
P/E Ratio 25.1
Price to Sales 2.8
Price to Book 2.6
Price to Tangible Book
Price to Cash Flow 15.7
Price to Free Cash Flow 36.5
Growth Rates
Sales Growth Rate 7.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 21.7%
Cap. Spend. - 3 Yr. Gr. Rate 20.1%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 36.4%
Total Debt to Equity 40.7%
Interest Coverage 9
Management Effectiveness
Return On Assets 6.7%
Ret/ On Assets - 3 Yr. Avg. 5.1%
Return On Total Capital 7.4%
Ret/ On T. Cap. - 3 Yr. Avg. 5.4%
Return On Equity 10.4%
Return On Equity - 3 Yr. Avg. 7.5%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 23.8%
Gross Margin - 3 Yr. Avg. 20.6%
EBITDA Margin 25.3%
EBITDA Margin - 3 Yr. Avg. 21.7%
Operating Margin 17.5%
Oper. Margin - 3 Yr. Avg. 13.9%
Pre-Tax Margin 15.9%
Pre-Tax Margin - 3 Yr. Avg. 12%
Net Profit Margin 11.1%
Net Profit Margin - 3 Yr. Avg. 8.2%
Effective Tax Rate 30%
Eff/ Tax Rate - 3 Yr. Avg. 32.8%
Payout Ratio 24.7%

MLM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MLM stock intrinsic value calculation we used $3965.594 million for the last fiscal year's total revenue generated by Martin Marietta Materials. The default revenue input number comes from 0001 income statement of Martin Marietta Materials. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MLM stock valuation model: a) initial revenue growth rate of 13.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.6%, whose default value for MLM is calculated based on our internal credit rating of Martin Marietta Materials, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Martin Marietta Materials.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MLM stock the variable cost ratio is equal to 82.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MLM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Martin Marietta Materials.

Corporate tax rate of 27% is the nominal tax rate for Martin Marietta Materials. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MLM stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MLM are equal to 122.1%.

Life of production assets of 20.8 years is the average useful life of capital assets used in Martin Marietta Materials operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MLM is equal to 19.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4679.6 million for Martin Marietta Materials - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 63.012 million for Martin Marietta Materials is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Martin Marietta Materials at the current share price and the inputted number of shares is $10.6 billion.

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COMPANY NEWS

▶ 6 Beaten Down Stocks Ready For Big Rebounds   [Sep-18-18 01:00PM  Investopedia]
▶ Martin Marietta Increases Quarterly Cash Dividend   [Aug-23-18 04:30PM  GlobeNewswire]
▶ How North Carolina growth boosted aggregates maker Martin Marietta   [Jul-30-18 12:43PM  American City Business Journals]
▶ Martin Marietta: 2Q Earnings Snapshot   [09:47AM  Associated Press]
▶ Cramer's Exec Cut: Business is bigger in Texas   [Jul-13-18 06:00PM  CNBC Videos]
▶ The Triangle's top inside stock sales in the first half of 2018   [Jul-09-18 05:25PM  American City Business Journals]
▶ 31 Undervalued Stocks   [Jul-02-18 06:00AM  Morningstar]
▶ When Should You Buy Martin Marietta Materials Inc (NYSE:MLM)?   [Jun-24-18 09:53AM  Simply Wall St.]
▶ With federal greenlight, $1.2B in contracts up for grabs with 'Complete 540' project   [Jun-08-18 03:12PM  American City Business Journals]
▶ 3 Infrastructure Plays for the Trump Economy   [May-23-18 11:47AM  InvestorPlace]
▶ Martin Marietta Declares Regular Cash Dividend   [May-17-18 05:15PM  GlobeNewswire]
▶ Why Martin Marietta's CEO expects a 'record year'   [May-09-18 08:31AM  American City Business Journals]
▶ Martin Marietta: 1Q Earnings Snapshot   [07:46AM  Associated Press]
▶ [$$] Deal Close Announcements: April 30-May 4   [May-04-18 06:28PM  The Wall Street Journal]
▶ Martin Marietta closes Bluegrass deal, integration underway   [11:30AM  American City Business Journals]
▶ Feds file antitrust complaint against Martin Marietta Materials   [Apr-27-18 12:02PM  American City Business Journals]
▶ Executive Pay: How much execs at Raleigh's Martin Marietta earned in 2017   [Apr-24-18 11:07AM  American City Business Journals]
▶ From BDSI to Red Hat: The Triangle's top inside stock sales of 1Q2018   [08:36AM  American City Business Journals]
▶ Trump border wall charges ahead in spite of infrastructure plan   [Mar-12-18 04:49PM  Fox Business Videos]
▶ Martin Marietta Declares Regular Cash Dividend   [Feb-22-18 05:05PM  GlobeNewswire]
▶ Infrastructure Plan Underwhelms   [Feb-14-18 07:00AM  Morningstar]
▶ Market Underestimating Martin Marietta   [Feb-13-18 05:29PM  Morningstar]
▶ Martin Marietta Stock Rises On Strong Earnings, Guidance   [04:13PM  Investor's Business Daily]
▶ Stocks Down, But Optimism Gauge And This Group Show Strength   [12:00PM  Investor's Business Daily]
▶ Martin Marietta beats 4Q profit forecasts   [07:47AM  Associated Press]
▶ Highwoods Names Anne Lloyd to Board of Directors   [Jan-31-18 06:00PM  GlobeNewswire]
▶ New Strong Sell Stocks for January 9th   [Jan-09-18 08:26AM  Zacks]
▶ Basic Materials: The Most Overvalued Sector We Cover   [Dec-27-17 06:00AM  Morningstar]
▶ Martin Marietta Has a Solid Foundation for Profit Growth   [Dec-13-17 07:00AM  Morningstar]
▶ Martin Marietta Announces Pricing Terms of Debt Offering   [Dec-07-17 10:25AM  Business Wire]
▶ 3 Top Building-Materials Stocks to Buy Now   [Nov-30-17 08:30AM  Motley Fool]

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