To get a real sense of how the economy is doing, Jim Cramer likes to look at companies that produce aggregate products for the construction industry. If a stock like Martin Marietta Materials can report a remarkably great quarter, than he considers that to be a great sign for the U.S. economy.
Martin Marietta makes crushed stone, sand, gravel, concrete, asphalt and cement for various types of infrastructures, both residential and commercial. It is now the No. 2 play in the U.S. and has major exposure to the Texas market after acquiring Texas Industries last year.
The company delivered an 8 cent earnings beat on an 86 cent basis, including revenues that rose 57 percent, year over year. Additionally, it also announced an enormous buyback of 20 million shares. The stock has soared to $137 from $119 in a single session, and closed even higher Thursday, at $142.
Could this be a sign that the U.S. economy will continue to be on the right track for the long term?
To find out, Cramer sat down with Martin Marietta Materials CEO Ward Nye.