5 Best Construction Materials Stocks To Invest In Right Now

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

Number of Hedge Fund Holders: 52

Martin Marietta Materials, Inc. (NYSE:MLM) is a supplier of aggregates and heavy-side building materials. In the fourth quarter of 2023, 52 hedge funds held positions in Martin Marietta Materials, Inc. (NYSE:MLM), and their total stakes amounted to $2.74 billion. As of the fourth quarter of 2023, Robert Joseph Caruso’s Select Equity Group is the most significant shareholder in the company and has a position worth $1.21 billion.

As of April 22, Martin Marietta Materials, Inc. (NYSE:MLM) has a consensus Buy rating among 12 analysts, and its average price target of $632.86 has an upside of nearly 8.31% from current levels.

Aristotle Capital Management, LLC mentioned Martin Marietta Materials, Inc. (NYSE:MLM) in its first quarter 2024 investor letter:

“Aggregates producer Martin Marietta Materials, Inc. (NYSE:MLM) was a top contributor for the period. As a result of the company’s successful execution of its value-over-volume commercial strategy, including 15% price increases in its aggregates business, Martin Marietta reported full-year records for revenues and profitability. Furthermore, the company continues to bolster its leadership position through the acquisitions of Albert Frei & Sons, a leading aggregates producer in Colorado, and the southeast aggregates operations of Blue Water Industries. These transactions are expected to add one billion tons of reserves, improve product mix and profitability, and allow for the expansion into new target markets such as Nashville and Miami. We believe Martin Marietta is well positioned to continue executing on its catalysts, including optimizing its product portfolio and further enhancing profitability from both pricing and operations initiatives, all while benefiting from continued increases in both non-residential construction and government spending.”