11 Best Cement and Construction Materials Stocks to Buy Now

2. Martin Marietta Materials, Inc. (NYSE:MLM)

Number of Hedge Fund Holders: 45

Martin Marietta Materials, Inc. (NYSE:MLM) is a supplier of building materials such as aggregates, cement, ready-mixed concrete, and asphalt. The company has a network of operations across 28 states, Canada, and the Bahamas. Martin Marietta Materials also has a Magnesia Specialties business which produces high-purity magnesia and dolomitic lime products.

Martin Marietta Materials, Inc. (NYSE:MLM) has an aggregates-led business that focuses on the nation’s most vibrant markets and has been resilient against macroeconomic conditions. The firm’s operations are strategically positioned in high-growth markets. The total revenues, adjusted EBITDA, and diluted earnings per share rising from 2010 to 2023 reflect the firm’s robust financial performance. Furthermore, Martin Marietta Materials has a diversified end-market exposure which lowers the cyclical demand volatility.

The firm’s second-quarter financial results were negatively impacted by the restrictive monetary policy and precipitation in Texas and in the Midwest. However, the company witnessed record aggregates profitability. The aggregates gross profit per ton increased 9% to a second-quarter record of  $7.41. In April, the firm also completed the acquisition of 20 active aggregates operations in Alabama, South Florida, South Carolina, Tennessee, and Virginia from Blue Water Industries LLC.

Martin Marietta Materials, Inc. (NYSE:MLM) has a resilient aggregates business that is delivering results despite the prevailing challenges. As of Q2, the stock is held by 45 hedge funds thereby ranking among the best cement and construction materials stocks to buy now.