Martin Marietta Materials Inc.NYSE
Wed, Nov. 16, 3:28 PM
- Building materials stocks, on a tear since election day on hopes for increased infrastructure spending in a Trump presidency, are pulling back as BofA Merrill Lynch downgrades Vulcan Materials (VMC -3.5%), Martin Marietta Materials (MLM -3.7%) and Summit Materials (SUM -2.3%) to Neutral from Buy.
- BofA says it had expected an improvement in the group before Trump's win because of the expected 2017 benefit of the FAST act, which provides the first multi-year highway spending program in a decade, but any further stimulus measures passed in mid 2017 would not benefit until 2018-19.
- The firm sees VMC, MLM and SUM as having already had expected robust growth for 2018 priced in, thus the downgrade of the segment; but price targets are raised, to $139 from a prior $129 for VMC, $235 from $209 for MLM, and raised to $29 at SUM.
Tue, Nov. 15, 7:45 PM
- The big gains in infrastructure stocks in anticipation of government spending on roads and bridges in a new Trump administration have some analysts warning that the rally is "getting long in the tooth."
- Among relevant companies up at least 12% since last Tuesday's election: PWR, FLR, VMC, JEC, MLM, KBR, ACM, SUM, EXP.
- One former infrastructure bull, Daniel Clifton of Strategas Research, thinks lofty expectations are now priced into the group, adding that the belief that fiscal conservatives in Congress who have long opposed increasing the deficit would suddenly pass a trillion dollars in spending has become too optimistic.
- Clifton also says Trump’s infrastructure plan in its current form relies entirely on private financing and “has little to do with the actual stocks that are rallying.”
- Greg Valliere, chief global strategist at Horizon Investments, reminds that "Washington moves slowly on huge projects like this, and there’s a lag time on the economic response."
- ETFs: XHB, ITB, XLI, PHO, IYT, VIS, XTN, FIDU, IYJ, PKB, FXR, UXI, RGI
Sat, Nov. 12, 4:43 PM
- Barron's speaks with several prominent money managers.
- They are hopeful that Donald Trump will enact pro-growth tax and fiscal-stimulus policies, while avoiding overly protectionist measures.
- Even though biotech stocks have already rallied 10%, fund manager Arun Daniel believes that the benefits of a Trump administration on the bottom lines of biotech and drug companies are not yet fully priced in. ETFs: IBB, XBI, BIB, BBH, FBT, HQL, PBE, BIS, LABU, BBC, BBP, CNCR, LABD, UBIO, ARKG, ZBIO, LABS
- He's also bullish on stocks leveraged to government-backed infrastructure spending, his favorites being Jacobs Engineering (NYSE:JEC) and Martin Marietta Materials (NYSE:MLM).
- Some companies will likely be allowed to repatriate billions of dollars of profits at a low tax rate. Major beneficiaries could include Nike (NYSE:NKE), Procter & Gamble (NYSE:PG), Caterpillar (NYSE:CAT), Visa (NYSE:V) and Mastercard (NYSE:MA).
- Neuberger Berman's Joseph Amato says that a Trump administration will be better for stocks than bonds. "If [Trump] takes a measured approach and gets some level of concessions for U.S. workers, the trade concerns may be much ado about nothing," Amato says. "But that's a big if."
Fri, Nov. 11, 9:11 AM
Wed, Nov. 9, 3:35 PM
- Investors are betting that some big U.S. manufacturers such as Caterpillar (CAT +7.7%) could benefit from possible changes in energy, climate and tax policies in the Trump administration.
- CAT is "looking forward to building those bridges," says VP for global government and corporate affairs Kathryn Dickey Karol, adding that the company is excited about Trump’s calls for improving the U.S. transportation network.
- CAT says it will continue to push for adoption of the Trans-Pacific Partnership during the remaining days of the Obama administration; Martin Richenhagen, Chairman and CEO of farm equipment maker Agco (AGCO +0.9%), says he is concerned about Trump’s repeated support for trade protectionism during the campaign.
- The potential for federal spending boosted the likes of Fluor (FLR +10.1%), Aecom (ACM +12.6%), Jacobs Engineering (JEC +9.8%), Manitowoc (MTW +14.2%), Terex (TEX +14.8%), Vulcan Materials (VMC +9.8%) and Martin Marietta Materials (MLM +11.5%).
- Shares in Deere (DE +1.4%), Paccar (PCAR +4.5%) and Navistar (NAV +7.2%) also are higher.
Wed, Nov. 9, 2:44 AM
- With Donald Trump elected as the 45th President of the United States, one of the biggest beneficiaries might be Mexican cement company Cemex (NYSE:CX).
- Trump has campaigned to build a wall on the Mexican border and immediately begin the process of deporting illegal immigrants with criminal records.
- Other beneficiaries: MLM, VMC, GVA, TTEK, X, NUE, STLD, DE, CAT, FLR, KBR
Tue, Nov. 1, 8:07 AM
Mon, Oct. 31, 5:30 PM
- ADPT, AEP, AHH, ALLT, AME, AMRC, ANGI, APLP, ARRY, AUDC, AVA, AYR, BKD, BP, CIE, CMI, CNX, COH, CRCM, DHX, DIN, DISCA, DX, ECL, EGL, EIGI, EMR, ETN, EVHC, FCH, FDP, FIS, FSS, GHM, GK, GLT, GWR, HCP, HRS, HSKA, HW, HZO, ICE, IDXX, INCY, IRM, K, KEM, LXRX, LYB, MCRN, MDC, MLM, MOS, MSM, NI, NSP, OSK, OXY, PBI, PES, PFE, PPL, PRTS, RDC, RDS.A, RDWR, RHP, SAH, SALE, SCAI, SHOO, SHPG, SNE, SPR, SUI, TAP, TRI, WCG, WLB, WNR, WNRL, XYL
Tue, Oct. 11, 10:30 AM
- While Goldman Sachs boosts Caterpillar and Cummins with upgrades, the firm downgrades KBR (KBR -5.8%) to Sell from Neutral with a $15 price target.
- The firm believes KBR will be challenged to grow earnings amid an energy and mining capex recovery due to its outsized exposure to core liquefied natural gas and greenfield ammonia capex cycles, which are in the early stages of decline.
- Goldman also cuts Martin Marietta Materials (MLM -0.8%) and Summit Materials (SUM -2.2%) to Neutral from Buy.
Mon, Aug. 22, 9:02 AM
Tue, Aug. 2, 8:09 AM
Mon, Aug. 1, 5:30 PM
- ABC, ACCO, ADM, AET, AFSI, ALLT, ARW, AVP, BOFI, CAH, CARB, CEQP, CHH, CIE, CMI, CPPL, CSTM, CVS, DISCA, ECL, EIGI, EMR, ENOC, EPC, ETN, ETR, EXPD, FDP, GEO, GLT, GNRC, H, HCLP, HCN, HEP, HMC, HRS, HW, IDCC, IDXX, IIVI, IPI, IQNT, JLL, MLM, MMP, MNK, MOS, MZOR, NI, NJR, NNN, NRZ, NS, NWN, OZM, PBI, PFE, PG, PNW, RCL, RDC, RHP, SABR, SALE, SCAI, SHOO, SHPG, SODA, STX, SUI, TAP, TDC, VG, VSH, WCG, WNR, WNRL, XYL, ZEUS
Mon, Jul. 18, 1:55 PM
- If Donald Trump becomes U.S. president and builds a wall on the Mexican border, one of the biggest beneficiaries might be Mexican cement company Cemex (CX +3%).
- Bernstein analysts say CX, with operations on both sides of the border, would be “best positioned” to profit from such a large construction project, as such a wall likely would emulate the design of a barrier separating Israel from the West Bank, much of which was built with precast concrete panels.
- Noting that it is not economically feasible to transport heavy building materials over large distances, Bernstein believes the companies with production facilities closest to the border would stand to gain the most as suppliers to Trump's wall.
- Other beneficiaries could include Martin Marietta Materials (MLM +0.8%) and Vulcan Materials (VMC +0.1%), the firm says.
Thu, May 19, 2:47 PM
- Martin Marietta Materials (NYSE:MLM) declares $0.40/share quarterly dividend, in line with previous.
- Forward yield 0.87%
- Payable June 30; for shareholders of record June 1; ex-div May 27.
Mon, May 9, 10:34 AM
- Stephens raised its price target on Martin Marietta (MLM +2%) to $200 from $179 following the company's "strong" Q1 results (which came in ahead of expectations in every category).
- The firm also reiterated an Overweight rating on the stock.
Thu, May 5, 9:35 AM
- Net earnings of $45M, or $0.69 per diluted share vs. $6.1M, or $0.07 per share in the same quarter a year ago.
- Sales grew 16.2% to $724M from $631.9M in the period a year earlier.
- Revenue by segment: Aggregates +8%; Cement -40%; Magnesia Specialties -12%.
- During the quarter, the company repurchased about 1M shares of its common stock for $150M.
- Outlook for 2016: Net sales of $1.95B-$2.05B; EBITDA of $1M-$1.05M.
- MLM +3.3% at the open.
- Q1 results