Martin Marietta Materials, Inc. (NYSE:MLM) will look for acquisitions. The company announced that on February 11, 2024, it entered into a definitive agreement to acquire 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from affiliates of Blue Water Industries LLC (BWI Southeast) for $2.05 billion in cash. Additionally, on February 9, 2024, the Company completed its previously announced divesture of its South Texas cement and related concrete operations to CRH Americas Materials, Inc., a subsidiary of CRH plc, for $2.1 billion in cash.

Together, these portfolio optimizing transactions not only improve the Company's product mix, margin profile and durability through cycles, but also provide balance sheet flexibility for future acquisitive and organic growth.