Sign in

    Martin Marietta Materials Inc (MLM)

    You might also like

    Martin Marietta Materials, Inc. is a natural resource-based building materials company that supplies essential construction materials, including aggregates like crushed stone, sand, and gravel, through an extensive network of quarries, mines, and distribution yards across 28 states, Canada, and The Bahamas . The company also offers cement and downstream products such as ready mixed concrete, asphalt, and paving services, operating in vertically-integrated markets where it holds a leading position in aggregates . The business is organized into two main segments: the East Group and the West Group, each focusing on different combinations of these products .

    1. Aggregates - Supplies crushed stone, sand, and gravel, forming the core of the company's offerings and supporting construction and infrastructure projects.
    2. Cement - Provides essential binding material for construction, enhancing the durability and strength of structures.
    3. Ready Mixed Concrete - Delivers pre-mixed concrete solutions tailored for various construction needs, ensuring quality and consistency.
    4. Asphalt and Paving Services - Offers asphalt products and comprehensive paving services, supporting road construction and maintenance.
    5. Magnesia Specialties - Produces magnesia-based chemical products and dolomitic lime, serving industrial and agricultural markets.
    NamePositionStart DateShort Bio
    C. Howard NyeChair of the Board, President, and Chief Executive Officer2010C. Howard Nye has served as Chairman of the Board since 2014, as President since 2006, and as CEO and Director since 2010. He previously worked at Hanson PLC and holds degrees from Duke University and Wake Forest University .
    James A. J. NickolasExecutive Vice President and Chief Financial Officer2023James A. J. Nickolas became the Executive Vice President and CFO in 2023. He was previously the Principal Accounting Officer in 2019 and Senior Vice President, CFO from 2017 to 2023 .
    Roselyn R. BarExecutive Vice President, General Counsel, and Corporate Secretary2015Roselyn R. Bar has been the Executive Vice President, General Counsel, and Corporate Secretary since 2015. She became General Counsel in 2001 and Corporate Secretary in 1997. She plans to retire in the second half of 2025 .
    Kelly G. BennettSenior Vice President, Chief Human Resource Officer2024Kelly G. Bennett assumed the role of Senior Vice President, Chief Human Resource Officer in 2024. Previously, Bennett was Senior Vice President, Human Resources from 2023 to 2024 and Vice President of Total Rewards from 2018 to 2023 .
    Oliver W. BrooksSenior Vice President, Enterprise Excellence2022Oliver W. Brooks became the Senior Vice President of Enterprise Excellence in 2022. He was previously Vice President of Strategic Planning for the Southwest Division from 2020 to 2022 and General Manager for the North Texas/Oklahoma District from 2018 to 2020 .
    Robert J. CardinSenior Vice President, Controller, and Chief Accounting Officer2019Robert J. Cardin has been the Senior Vice President, Controller, and Chief Accounting Officer since 2019. He was previously Vice President and Corporate Controller in 2019 and held similar roles at Schweitzer-Mauduit International from 2013 to 2019 .
    Michael J. PetroSenior Vice President, Strategy and Development2021Michael J. Petro assumed the position of Senior Vice President, Strategy and Development in 2021. He was Vice President, Strategy and Development from 2018 to 2021 and Director, Strategy and Development from 2015 to 2018 .
    1. Given the 119% increase in precipitation in Dallas-Fort Worth , your largest and most profitable market, and the flooding in parts of the Midwest , how does the company plan to mitigate such significant weather-related risks in the future, and what measures are being implemented to manage the associated financial volatility?

    2. With the lag effect of restrictive monetary policy pressuring interest rate-sensitive private construction demand more than previously anticipated , how is the company adjusting its strategic priorities to address the sharper-than-expected decline in private non-residential construction?

    3. Your value-over-volume philosophy contributed modestly to the shipment decline , yet you emphasize margin expansion. Could this strategy potentially limit future market share growth, and how do you balance this approach with long-term volume growth objectives?

    4. While the M&A pipeline remains active, focusing largely on pure-play aggregates businesses , how are you ensuring effective integration of recent acquisitions like Blue Water and Albert Frei & Sons without overextending resources, and what metrics are you using to assess post-acquisition performance?

    5. Considering the decline in state and local government highway, bridge, and tunnel contract awards to $114 billion, modestly below 2023 levels , how do you anticipate this will impact your infrastructure segment in the coming quarters, and what strategies are you implementing to offset potential softness in public spending?

    Program DetailsProgram 1
    Approval DateFebruary 10, 2015
    End Date/DurationNo expiration date
    Total additional amount20 million shares
    Remaining authorization11,935,338 shares
    DetailsPart of a strategy to utilize cash effectively and enhance shareholder value. The company believes the stock is undervalued and aims to address dilution from compensation-related stock issuance.
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2025$125 7% Debentures7.00 3.1% = (125 / 4043) * 100
    2027$299 3.450% Senior Notes3.450 7.4% = (299 / 4043) * 100
    2027$493 3.500% Senior Notes3.500 12.2% = (493 / 4043) * 100
    2030$472 2.500% Senior Notes2.500 11.7% = (472 / 4043) * 100
    2031$890 2.400% Senior Notes2.400 22.0% = (890 / 4043) * 100
    2037$228 6.25% Senior Notes6.25 5.6% = (228 / 4043) * 100
    2047$591 4.250% Senior Notes4.250 14.6% = (591 / 4043) * 100
    2051$850 3.200% Senior Notes3.200 21.0% = (850 / 4043) * 100

    Competitors mentioned in the company's latest 10K filing.

    • Arcosa, Inc.
    • CEMEX S.A.B. de C.V.
    • CRH plc
    • Heidelberg Materials AG
    • Holcim Ltd.
    • Knife River Corporation
    • Summit Materials, Inc.
    • Vulcan Materials Company
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP (PwC)March 14, 2016 PresentCurrent auditor.
    Ernst & Young LLP (EY)N/AMarch 14, 2016 The Audit Committee conducted a competitive process to select a new auditor.

    Recent developments and announcements about MLM.

    Financial Actions

      Debt Issuance

      ·
      Dec 20, 2024, 9:39 PM

      On December 20, 2024, Martin Marietta Materials, Inc. (MLM) entered into a Loan Modification No. 3 and Extension Agreement with JPMorgan Chase Bank, N.A. and other lenders. This agreement pertains to MLM's $800,000,000 five-year senior unsecured revolving credit facility. The modification extends the maturity date of the loans under this credit agreement to December 21, 2029. This extension represents a direct financial obligation for MLM, as it involves a significant credit facility that impacts the company's balance sheet and financial health by extending its debt obligations over a longer period. Such arrangements can affect the company's liquidity and leverage ratios, potentially influencing its financial stability and creditworthiness .

    Corporate Leadership

      Leadership Change

      ·
      Dec 3, 2024, 10:56 PM

      Roselyn R. Bar, Executive Vice President, General Counsel, and Corporate Secretary of Martin Marietta Materials, Inc., has announced her decision to retire in the second half of 2025 .