5 Best Cement and Construction Materials Stocks To Buy Now

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

Number of Hedge Fund Holders: 39

Martin Marietta Materials, Inc. (NYSE:MLM) was founded in 1939 and is headquartered in Raleigh, North Carolina. It is a natural resource-based building materials company, providing aggregates and heavy-side building materials to the construction industry in the United States and internationally. On August 10, Martin Marietta Materials, Inc. (NYSE:MLM) declared a $0.66 per share quarterly dividend, an 8.2% increase from its prior dividend of $0.61. The dividend was distributed to shareholders on September 30. Martin Marietta Materials, Inc. (NYSE:MLM) is one of the premier materials stocks to buy now. 

On October 12, DA Davidson analyst Brent Thielman maintained a Buy recommendation on Martin Marietta Materials, Inc. (NYSE:MLM) but trimmed the price target on the shares to $385 from $395. The analyst attributed his price target change to near-term volume slowness associated with supply constraints, rail operations, and uncertain weather. He added that his discussions with non-residential contractors suggest that positive pipelines into 2023 “lend cautious optimism” for Martin Marietta Materials, Inc. (NYSE:MLM).

Among the hedge funds tracked by Insider Monkey, Martin Marietta Materials, Inc. (NYSE:MLM) was part of 39 public stock portfolios at the end of Q2 2022, compared to 35 in the prior quarter. Robert Joseph Caruso’s Select Equity Group is the biggest stakeholder of the company, with nearly 4 million shares worth $1.2 billion. 

Here is what Diamond Hill Capital Management specifically said about Martin Marietta Materials, Inc. (NYSE:MLM) in its Q2 2022 investor letter:

“Martin Marietta Materials, Inc. (NYSE:MLM) is the second largest aggregates producer and distributor in the US, with competitively positioned cement, ready-mix, asphalt and magnesia specialty businesses. Its share price recently sold off due to concerns about a slowdown in the US residential housing market, giving us the opportunity to initiate a position at an attractive price. We believe Martin Marietta is strategically positioned in markets with strong growth potential, in states that have multi-year department of transportation (DOT) plans approved, and the Infrastructure Investment and Jobs Act (IIJA) will begin distributing funds later this year. Additionally, in the event of an economic downturn, the company has the ability to pull from its prior playbook as a stronger, more geographically diversified player to acquire smaller companies, resulting in better market consolidation.”

You can also take a look at 10 Cheap Defense Stocks To Buy and 10 Best Silver Mining Stocks To Invest In. 

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