1219 ET - Martin Marietta Materials' acquisition of limestone supplier Lhoist North America may seem like a departure from the company's aggregates business, but it makes sense given commercial and operational similarities between that and the lime business, Raymond James analysts write in a note. "The lime market requires hard- to-replicate high-calcium (geologically different) limestone reserves, is a quarry-based blasting and crushing operation, enjoys a highly consolidated market structure, and is incredibly high necessity (and low value) to the markets it serves," they write, adding that the company's estimate of $85 million in annual cost synergies could be conservative. "We believe that market will come to appreciate the quality of the assets in time." Shares in Martin Marietta fall 6.5%. (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

June 29, 2026 12:19 ET (16:19 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.