Investment Thesis
Martin Marietta Materials supplies aggregates, cement, and downstream products for infrastructure and construction projects. Scarce reserves, geographic positioning, and public infrastructure outlays drive growth.
- Aggregates Moat: Permitted quarries near growing Sunbelt markets create barriers to entry.
- Public Funding Tailwind: IIJA, CHIPS, and IRA projects support multi-year demand.
- Pricing Power: Inflation-based escalators protect margins across cycles.