Martin Marietta to sell some operations to CalPortland in $250M deal

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Martin Marietta Materials (NYSE:MLM) agrees to sell certain west coast cement and ready mixed concrete operations to CalPortland for $250M.

The deal includes the Redding cement plant, related cement distribution terminals and 14 ready-mixed concrete plants located in California.

The company says the parties also are discussing a potential sale of the Tehachapi cement plant and related cement distribution terminals, but a deal is still pending.

Martin Marietta Materials continues to demonstrate it is "a solid firm," but it "looks at best fairly valued, so now might not be the time to buy in," Daniel Jones writes in an analysis posted recently on Seeking Alpha.