Is Martin Marietta Materials (MLM) Undervalued Following Record Guidance And A 20% Slide?

Martin Marietta Materials (MLM) has become a talking point after reporting record second quarter revenue and Adjusted EBITDA, and lifting full year guidance to a projected US$7.2b to US$7.4b range. The share price has still retreated since that earnings release, which provides an event driven setup to reassess the stock’s recent performance and expectations. Recent trading tells a very different story from the upbeat headlines. Martin Marietta Materials’ share price has dropped 19.55% over...