Wired News – Martin Marietta Completes $1.625 Billion Bluegrass Acquisition

Stock Monitor: USG Corp. Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 2, 2018 / Active-Investors.com has just released a free research report on Martin Marietta Materials, Inc. (NYSE: MLM). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MLM as the Company’s latest news hit the wire. On April 30, 2018, the Company announced that it successfully completed its acquisition of Bluegrass Materials Company, the largest privately-held, pure-play aggregates Company in the United States, for $1.625 billion in cash. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for USG Corporation (NYSE: USG), which also belongs to the Industrial Goods sector as the Company Martin Marietta Materials. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Martin Marietta Materials most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Transaction Details

The transaction, which closed on April 27, 2018, provides Martin Marietta a portfolio of more than 125 years of strategically-located, high-quality reserves across Georgia, South Carolina, Maryland, Kentucky, and Tennessee.

The Bluegrass acquisition, wholly consistent with Martin Marietta’s long-term strategic growth plan, enhances its aggregates-led position in high-growth southeastern and Mid-Atlantic regions and expands Martin Marietta’s product offerings to both new and existing customers.

Ward Nye, Chairman, President and CEO of Martin Marietta, stated:

”Bluegrass’ strategic assets and impressive cost profile, combined with the depth and excellence of its personnel, strengthen the Company’s ability to deliver significant value for shareholders, customers and employees.”

Agreement with DoJ

Martin Marietta also announced that it has reached an agreement with the US Department of Justice (DoJ), which has been submitted to the United States District Court for the District of Columbia as a proposed court order. The agreement resolves all competition issues with respect to the Bluegrass acquisition. Under the terms of the agreement with the DoJ, Martin Marietta divested its Forsyth aggregates quarry north of Atlanta, Georgia, and will divest Bluegrass’ Beaver Creek aggregates quarry in western Maryland.

Martin Marietta expects to realize annual synergies of approximately $15 million within twelve months of the transaction’s close date. Excluding acquisition-related expenses, the acquisition is also expected to be accretive to earnings per share and cash flow within the first full year of ownership.

Upcoming Earnings

Martin Marietta announced that it will provide an online Web simulcast of its first quarter 2018 earnings conference call on May 08, 2018. The Company will release results for the first quarter ended March 31, 2018, premarket the same day.

Martin Marietta will provide additional information about the Bluegrass acquisition on the earnings conference call.

About Martin Marietta, Inc.

Martin Marietta, a member of the S&P 500 Index, is an American-based Company and a leading supplier of building materials, including aggregates, cement, ready mixed concrete, and asphalt. Through a network of operations spanning 27 states, Canada, and The Bahamas, dedicated Martin Marietta teams supply the resources necessary for building the solid foundations on which our communities thrive. Martin Marietta’s Magnesia Specialties business provides a full range of magnesium oxide, magnesium hydroxide, and dolomitic lime products.

Stock Performance Snapshot

May 01, 2018 – At Tuesday’s closing bell, Martin Marietta Materials’ stock was marginally up 0.18%, ending the trading session at $195.13.

Volume traded for the day: 721.18 thousand shares, which was above the 3-month average volume of 687.40 thousand shares.

After yesterday’s close, Martin Marietta Materials’ market cap was at $12.25 billion.

Price to Earnings (P/E) ratio was at 27.20.

The stock has a dividend yield of 0.90%.

The stock is part of the Industrial Goods sector, categorized under the General Building Materials industry.

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