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Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $668.70, according to analysts polled by FactSet.
US non-residential construction is approaching a reacceleration, driven by semiconductor and pharmaceutical investments, UBS Securities said in a note emailed Tuesday.The brokerage expects manufacturing-related construction to rebound to more than $200 billion by the end of next year following a 25% drop to $186 billion in the last 12 months.Electric vehicle and battery plants, as well as semiconductor investments, drove the previous buildout cycle from 2021 to 2024, UBS analysts, including Steven Fisher, said."Our analysis and project tracking continues to suggest the drivers this cycle will be another round of semiconductor factories and pharmaceutical projects, in addition to some general industrial and defense related investments," Fisher wrote.UBS upgraded its 2027 growth outlook for non-residential construction to 6.7% from 6%, while lowering the 2026 view to show a 0.9% drop, all in nominal terms.The semiconductor industry has announced nearly $300 billion in year-to-date investments, according to the note. The CHIPS and Science Act, which became law in 2022, initially boosted capacity expansion, but companies have reassessed plans over the last one to two years."For some time, semiconductor manufacturers have remained relatively disciplined in their capacity expansion plans, preferring to add capacity in response to demand rather than build ahead of it," Fisher said. "That demand now appears firmly in place."Pharmaceutical companies have announced about $400 billion in new investments over the last two years, including a commitment of at least $20 billion from Eli Lilly (LLY), amid surging demand for weight loss drugs, the UBS note showed.Defense spending is also on the rise due to the evolving geopolitical situation."In addition to structural drivers discussed above, we think that cyclical drivers will add to growth," Fisher said.The Institute for Supply Management's purchasing managers' index has been expanding for eight months in a row following three years of sluggish performance, according to the brokerage. Separately, S&P Global (SPGI) said last week that manufacturing growth held steady sequentially in August.UBS said equipment rental firm United Rentals (URI) is the main beneficiary of the manufacturing capacity expansion.The brokerage is also positive on United Rentals' peer Equipmentshare.com (EQPT) and construction machinery names Oshkosh (OSK), Caterpillar (CAT), Deere (DE) and CNH Industrial (CNH).Materials providers like Martin Marietta Materials (MLM) and CRH (CRH) and some companies in the engineering and construction sector will also benefit from a pickup in factory activity, according to the note.
Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $667.59, according to analysts polled by FactSet.
Martin Marietta Materials (MLM) is set to benefit from its "transformational" acquisition of Lhoist North America, RBC Capital Markets said in a note Friday."Lime is aggregates plus: better pricing power, contracted revenue, minimal cyclicality, and superior free cash flow conversion," the report said.Earlier this week, Martin Marietta said it completed its acquisition of Lhoist North America, a producer of high calcium lime, dolomitic lime and industrial mineral products.RBC analysts raised revenue and EBITDA estimates for 2026 and 2027 to take into account the acquisition, and pointed to market undervaluing over $150 million of unquantified synergies."Q3 will be noisy...but once that is out of the way and with a clean Q4 ahead and 2027 repricing catalysts stacking up, MLM is set to step into the Lime light and deliver a strong performance," the report said.RBC raised its price target to $620 from $610 while keeping its sector perform rating.Price: $527.40, Change: $-1.19, Percent Change: -0.23%
Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $667.14, according to analysts polled by FactSet.
Martin Marietta Materials (MLM) said Wednesday it received all regulatory approvals for its merger with Lhoist North America.The transaction is expected to be completed in Q3, subject to closing conditions, the company said.Price: $556.54, Change: $+0.71, Percent Change: +0.13%
Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $677.18, according to analysts polled by FactSet.Price: $538.18, Change: $+13.04, Percent Change: +2.48%
Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $683.14, according to analysts polled by FactSet.Price: $532.25, Change: $-7.75, Percent Change: -1.44%
Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $689.27, according to analysts polled by FactSet.Price: $575.68, Change: $+6.36, Percent Change: +1.12%
Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $690.18, according to analysts polled by FactSet.Price: $572.90, Change: $-0.85, Percent Change: -0.15%
Martin Marietta Materials' (MLM) proposed acquisition of Lhoist North American Lime operations is slightly expensive, but strategically makes sense, RBC Capital Markets said in a Thursday research report.The brokerage said it estimates the deal would increase its 2027 revenue and EPS forecasts by 24% and 4%, respectively, assuming the transaction closes by the end of 2026 and half of the expected synergies are realized.Martin Marietta is likely to extract far more value from the more than 2 billion tonnes of limestone reserves acquired through the deal than Lhoist currently does, according to the note.A medium-term bull case for the acquisition can be justified given a more diversified revenue profile, potential upside to cost and revenue synergies and greater M&A opportunities going forward.RBC has a sector perform rating on the stock with a price target of $615 per share.Shares of Martin Marietta were up more than 2% in Thursday trading.Price: $592.31, Change: $+13.07, Percent Change: +2.26%
Martin Marietta Materials' (MLM) planned $13.5 billion acquisition of Lhoist North America should be seen by investors as the "addition of unique, high quality assets," UBS Securities said in a note emailed Wednesday.UBS attributed some weakness in Martin Marietta Materials' share price after the proposed acquisition was announced to the "surprise factor of a large non-aggregates deal that leaves [Martin Marietta Materials] with financial leverage of more than 3x."However, the deal likely "both diversifies end markets/reduces cyclicality, and generates steady cash flow that can be used to delever and fund aggregates deals," the investment firm said.Some investors see the multiple as high, but the "potential for upside to synergies could reduce the multiple if they execute well," the note said.Meanwhile, the main risks are "market concentration, execution, and fit/strategic goals of the family that owned Lhoist and will now own 15%" of Martin Marietta Materials, the investment firm said.UBS reiterated Martin Marietta Materials' buy rating and has kept its $739 price target on the stock.Price: $571.11, Change: $-5.59, Percent Change: -0.97%
(Updates with market moves at the end of the day.)The Dow Jones Industrial Average hit a fresh all-time high at the start of what will be a short trading week.The Dow rose 0.6% to settle at 52,182.7 on Monday, closing above 52,000 for the first time. The Nasdaq Composite advanced 2.1% to 25,820.1, while the S&P 500 climbed 1.2% to 7,440.3, with both indexes rebounding after a five-day losing streak. Among sectors, communication services paced the gainers, while materials saw the sharpest drop.The New York Stock Exchange and Nasdaq will be closed on Friday in observance of the Independence Day holiday, which falls on a Saturday this year.Iran said that no talks were scheduled with the US in the coming days, despite President Donald Trump saying Washington will meet with Tehran in Qatar on Tuesday, CNN reported.Both sides engaged in attacks in and around the Strait of Hormuz.West Texas Intermediate crude oil was up 1.8% at $70.45 a barrel in Monday late-afternoon trade, while Brent advanced 1.1% to $72.78.US Treasury yields were higher, with the two-year rate up 1.1 basis points at 4.11% and the 10-year rate rising 0.7 basis points to 4.38%.In company news, Alphabet's (GOOGL) class A shares jumped 4.8%, the top gainer on the Dow, as the Google parent joined the index, replacing Verizon Communications (VZ), which fell 5.2%.Alphabet's class C shares (GOOG) rose 5%.Comcast (CMCSA) said it plans to split into two publicly traded companies, separating its NBCUniversal and Sky media businesses from its broadband and connectivity operations. Comcast shares advanced 4.5%.Honeywell International (HON) shares fell 6.4%, the worst performer on the Dow and third-biggest drop on the S&P 500. The company completed the spinoff of its aerospace business into an independent publicly traded company.Martin Marietta Materials (MLM) agreed to combine with limestone supplier Lhoist North America in a $13.5 billion deal. Shares of the American building materials supplier slumped 5.7%, among the steepest declines on the S&P 500.Nike (NKE), Constellation Brands (STZ) and General Mills (GIS) are expected to release their latest financial results this week.Gold was down 1.7% at $4,028.80 per troy ounce, while silver dropped 1% to $58.66 per ounce.
Evommune's (EVMN) top-line results from a phase 2b trial of EVO756 to treat adults with moderate-to-severe chronic spontaneous urticaria failed to meet the primary endpoint at any dosage, according to a statement released Monday.Shares sank 39% as intraday trading volume surged to over 5.9 million from a daily average of about 415,000.Solidion Technology (STI) said Monday it plans to opportunistically acquire shares of SpaceX (SPCX) as a long-term strategic treasury asset, using a modest portion of its cash reserves.Shares of Solidion slumped 20%, with intraday trading volume climbing to about 2.4 million from a daily average of roughly 2.8 million.Martin Marietta Materials (MLM) agreed to combine with limestone supplier Lhoist North America in a $13.5 billion deal.Shares dropped 6.6% as intraday trading volume rose to more than 759,300 from a daily average of about 509,000.Price: $15.35, Change: $-9.83, Percent Change: -39.04%
Martin Marietta Materials (MLM) agreed to combine with limestone supplier Lhoist North America in a $13.5 billion deal as the American building materials supplier aims to expand its lime portfolio amid resilient demand.The transaction's consideration comprises $7 billion in cash and $6.5 billion worth of Martin Marietta's shares, the company said Monday. Lhoist North America is owned by Belgian industrial company Lhoist Group.Martin Marietta's shares fell 6.4% in Monday trade, taking its year-to-date loss to 7.3%.The acquisition establishes Martin Marietta as the leading national producer of lime solutions, with demand for lime products expected to "remain resilient for decades to come," Chief Executive Ward Nye said.The deal is expected to strengthen Martin Marietta's presence in Texas and the Southeast.Lhoist North America, which produces hi-calcium lime, dolomitic lime and industrial mineral products, operates a network of 20 quarries and production facilities, as well as 45 distribution terminals. It generated $1.8 billion in gross sales for 2025, Martin Marietta said.Lhoist North America has more than 2 billion tons of limestone reserves in the Sun Belt metropolitan corridors.Martin Marietta estimates the transaction to be accretive to earnings and margins in the first full year after completion. The deal is expected to generate about $85 million in annual run-rate cost synergies, with further commercial and operational opportunities.Following completion, the Berghmans family, which founded Lhoist Group, is expected to own a 15% stake in Martin Marietta, with the right to appoint one director and one observer to the company's board.The deal, which requires approval from regulators, is expected to complete in the second half.In April, Martin Marietta agreed to acquire aggregates supplier New Frontier Materials.Price: $577.10, Change: $-38.96, Percent Change: -6.32%
All three major US stock indexes were up in late-morning trading Monday, as the US and Iran once again reportedly agreed to pause hostilities on Sunday.The US Supreme Court on Monday upheld a federal courts injunction preventing President Donald Trump from firing Federal Reserve Governor Lisa Cook before the conclusion of litigation.In company news, Comcast (CMCSA) plans to separate into two publicly traded companies through a tax-free spin-off of its NBCUniversal and Sky Businesses, the company said Monday. The separation, which is expected to be completed in about a year, would leave Comcast focused on its broadband and wireless operations, while NBCUniversal would include the Sky business along with its media, entertainment, streaming, studio, theme park, film and television assets, the company said. Comcast shares were up 7% around midday.Rocket Lab (RKLB) said Monday it has agreed to acquire Iridium Communications (IRDM) in a cash-and-stock deal with an enterprise value of about $8 billion. Under the agreement, Iridium shareholders will receive $27 in cash plus Rocket Lab stock. The deal is expected to close in mid-2027, pending regulatory and shareholder approvals, the company said. Rocket Lab shares were up 8.7%, while Iridium shares were up 22.1%.Martin Marietta Materials (MLM) said Monday it has entered into a definitive agreement to combine with Lhoist Group subsidiary Lhoist North America for $13.5 billion in cash and shares of Martin Marietta common stock. The deal is expected to close in H2, subject to regulatory approvals, the company said. Martin Marietta shares were down 6%.Amazon's (AMZN) Prime Day discounts generated over $26.4 billion in sales from June 23-26, a 9.3% year-over-year increase, Reuters reported over the weekend, citing Adobe (ADBE) Analytics data. Amazon shares were up about 4%.Price: $24.79, Change: $+1.62, Percent Change: +6.97%
Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $698.33, according to analysts polled by FactSet.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target by $39 to $531, valuing shares at an EV/EBITDA of 15.2x our next-12-month continuing operations EBITDA estimate, a discount to its five-year average of 16.1x. We justify our discount given our view of a less supportive construction environment compared to recent years that benefited from substantial IIJA funding. With the IIJA set to expire September 30, 2026, and no replacement currently in place, market expectations for sustained funding may not adequately reflect a scenario where infrastructure funding moves from delayed to canceled, in our opinion. We lower our 2026 EPS view by $0.47 to $19.45 and our 2027 EPS view by $1.37 to $23.10. MLM's focus on its core aggregates business drives our expectations for 180 bps of EBITDA margin expansion (cont. operations) to 35.4% as the divested lower-margin cement/ready-mix concrete operations no longer drag on consolidated margins, though elevated fuel costs and inflation-driven construction budget constraints may limit pricing power.
Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $702, according to analysts polled by FactSet.Price: $614.53, Change: $-4.55, Percent Change: -0.73%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:MLM delivered record Q1 2026 revenues of $1,362M (+17% Y/Y) with adjusted EPS of $1.93 (+14% Y/Y) and adjusted EBITDA growth of 14% to $364M, though underlying profitability metrics reflected portfolio optimization complexity. Aggregates shipments reached a record 43.9M tons (+12% Y/Y), but gross profit per ton declined 14% to $6.56 due to acquisition charges and inflation. We think the February completion of the QUIKRETE asset exchange and aggregates-focused strategy are sound moves, as aggregates carry stronger pricing power compared to cement and ready-mixed concrete. Management reaffirmed full-year 2026 guidance with mid-point adjusted EBITDA of $2.43B. We see execution risk in achieving this target, which requires Q2-Q4 adjusted EBITDA to average $689M quarterly (+5.9% vs. 2025). The troubling dynamic of 17% revenue growth while earnings from operations declined 9% represents an inversion of expected operating leverage.
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