UPDATE: D.A. Davidson & Co. Reiterates On Martin Marietta Materials On Completion Of TXI Acquisition

In a report published Thursday, D.A. Davidson & Co. analyst Brent Thielman reiterated a Neutral rating on Martin Marietta Materials (NYSE: MLM), and raised the price target from $125.00 to $130.00.

In the report, D.A. Davidson & Co. noted, “Martin Marietta announced the company has completed the acquisition of Texas Industries, Inc. as anticipated following recent regulatory and shareholder approval. Texas Industries shareholders receive 0.7 shares of Martin Marietta stock per share of TXI owned. The transaction, announced in January, combines Martin Marietta's (primarily) domestic aggregates assets with TXI's (primarily) cement assets, meaningfully changing the composition of MLM going forward.”

Martin Marietta Materials closed on Wednesday at $127.06.