Stocks are mixed this morning as stimulus talks hit another wall in the Senate. One issue that is not likely to be met with much of a pushback within Senate is Biden’s plan for infrastructure spending.
President Biden has pledged to govern as a centrist. But he also has made it very clear that he wants to “Build Back Better” with an emphasis on renewable energy and modern infrastructure. These priorities likely will be warmly embraced by a Democrat-controlled Congress without provoking a filibuster from Republican senators.
A key plank of President Biden’s platform includes pledges to “mobilize American manufacturing” and “build a modern infrastructure.” This bodes well for some infrastructure stocks like the one featured in today’s WSWD trade alert.
Martin Marietta Materials (MLM) is engaged principally in the building materials business, including aggregates, cement, ready mixed concrete and asphalt and paving product lines. The aggregates product line is sold and shipped from a network of more than 270 quarries and distribution facilities in 26 states, Canada, the Bahamas and the Caribbean Islands. The cement, ready mixed concrete and asphalt and paving product lines are located in strategic, vertically integrated markets, predominantly Texas and Colorado.
Building materials are used for construction of highways and other infrastructure projects, and in the non-residential and residential construction industries. Aggregates and cement products are also used in the railroad, agricultural, utility and environmental industries. The Company also has a Magnesia Specialties business that manufactures and markets magnesia-based chemical products used in industrial, agricultural, and environmental applications, and dolomitic lime.
Of 12 analysts offering recommendations, 4 rate the stock a Strong Buy, 1 rates it a Moderate Buy and 7 rate it a Hold. There are no Sell ratings for MLM stock.
Biden’s win should help to speed along a major boost in infrastructure spending, making MLM one of the best stocks to buy for the new administration.
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