NEW YORK (TheStreet) -- Shares of Martin Marietta Materials (MLM - Get Report) are rising by 2.44% to $173.65 on Thursday morning, after the Raleigh, NC-based company posted better-than-expected results for the 2016 first quarter.

Before the market open, the supplier of aggregates products for the construction industry reported earnings of 69 cents per diluted share, trumping analysts' expectations of 35 cents per share.

Revenue jumped by 16.2% to $734 million year-over-year and surpassed Wall Street's estimates of $657.5 million.

"We are especially pleased to report a record first quarter even as we are only in the early-stage of recovery in broadly-based construction activity," CEO Ward Nye said in a statement.

"Our ability to perform so well without the benefit of consistent macroeconomic support reflects positively on Martin Marietta's disciplined execution against our strategic priorities.

For 2016, the company forecasts revenue in the range of $3.5 billion to $3.7 billion. Analysts are looking for revenue of $3.58 billion.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A+ on the stock.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity.

The team believes its strengths outweigh the fact that the company shows low profit margins.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: MLM