Jim Cramer on Martin Marietta: "Just Hold it. I Wouldn't Buy More"

Martin Marietta Materials, Inc. (NYSE:MLM) is one of the stocks Jim Cramer recently offered insights on. A caller, who began buying MLM shares before a recent rally, noted the stock hit a 52-week high, and despite a pullback, they are up 36% and asked what they should do with their position. Cramer stated:

“Just hold it. I wouldn’t buy more. No need to sell it. It’s just a great long-term hold. By the way, so does Vulcan Materials, one of the greatest stock performers of all time. It’s really kind of a duopoly.”

Martin Marietta Materials, Inc. (NYSE:MLM) supplies aggregates, cement, concrete, and asphalt for construction, infrastructure, and industrial projects. In addition, the company produces magnesia-based chemicals and dolomitic lime used in steelmaking, soil stabilization, and environmental applications. During the September 3 episode, Cramer mentioned the company and commented:

“Okay, what’s going on with the stock of Martin Marietta Materials… Over the past few years, this company’s been a big beneficiary of federal infrastructure spending, and there’s still a lot of money left in Biden’s old infrastructure package. I had no idea until I read its deck. They had a big analyst meeting today. The last quarter was solid, too, and the stock’s up a quick 38% from April lows.”

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Disclosure: None. This article is originally published at Insider Monkey.