Martin Marietta Materials (MLM) Announces Acquisition of Aggregates Operations From Affiliates of Blue Water Industries for $2.05B

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Go back to Martin Marietta Materials (MLM) Announces Acquisition of Aggregates Operations From Affiliates of Blue Water Industries for $2.05B

Morgan Stanley on Martin Marietta Materials (MLM) Earnings: 'We expect a positive stock reaction'

February 14, 2024 7:53 AM EST

Morgan Stanley analyst Angel Castillo reiterated an Overweight rating and $595.00 price target on Martin Marietta Materials (NYSE: MLM)

The analyst comments "We expect a positive stock reaction to MLM's 4Q23 EPS beat and full year 2024 outlook and commentary that we think modestly exceeded expectations. MLM reported 4Q23 EPS from Cont. Operating EPS of $4.63 versus MSe of $4.74 and consensus estimate of $4.00. Relative to our EPS estimates, the beat was due to stronger Magnesia... More

Martin Marietta Materials (MLM) to acquire 20 Blue Water Industries units for $2.05bn

February 12, 2024 1:21 PM EST

Martin Marietta Materials (NYSE: MLM) announced Monday that it has entered into an agreement to acquire 20 active aggregate operations from Blue Water Industries for $2.05 billion in cash.

The operations are located in Alabama, South Carolina, South Florida, Tennessee, and Virginia. MLM said the BWI Southeast deal will be financed with cash from the balance sheet and... More