|Bid||232.030 x 100|
|Ask||232.280 x 100|
|Day's Range||230.330 - 235.185|
|52 Week Range||167.060 - 244.320|
|PE Ratio (TTM)||35.03|
|Earnings Date||Jul 31, 2017 - Aug 4, 2017|
|Dividend & Yield||1.68 (0.74%)|
|1y Target Est||N/A|
The sale stands to generate a return of more than three times the capital the private-equity firm invested in the company.
Martin Marietta Materials said it has agreed to buy Bluegrass Materials for $1.63 billion in cash, in an effort to expand its southeastern U.S. footprint and product range.
Raleigh aggregates manufacturer Martin Marietta Materials has reached an agreement to acquire Jacksonville, Florida-based Bluegrass Materials in a $1.6 billion cash deal. Bluegrass, said to be the largest privately held, pure-play aggregates company in the U.S., is a good fit, says Robert Norfleet, analyst with Alembic Global Advisors. Speaking hours after the news was released Monday, Norfleet pointed to Bluegrass’ 23 quarries, some in markets where Martin Marietta currently has assets, such as in South Carolina and Georgia.