Though Martin Marietta (MLM, Financial) stock declined in the quarter due to concerns about the near-term effect of the coronavirus pandemic on construction and demand for aggregates and cement, we believe the impact will likely be temporal and not as bad as the market fears. Notably, the consolidation of the aggregates market has led to rational pricing in most of the regions in which Martin Marietta operates.
From First Eagle Investment (Trades, Portfolio)'s Fund of America first-quarter 2020 shareholder commentary.
