by Emérito Quintana | 07/06/2022 08:43 AM | FRP
💰 FRP Holdings has approximately $170 million in cash and low debt.
⛏️ The company owns valuable aggregate reserves (sand, gravel, stone) in Florida, Georgia and other states, leased out under royalty agreements.
🏢 FRP has significant real estate holdings in Washington, D.C., including waterfront properties with development potential.
📈 The company has a track record of selling assets at high valuations and repurchasing shares when undervalued.
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by Emérito Quintana | 07/06/2022 08:43 AM | VMC
🤝 Vulcan Materials acquired Florida Rock Industries in 2007, demonstrating the value of the aggregate business.
💰 The acquisition price of $4.6 billion, a 45% premium, highlights Vulcan's recognition of Florida Rock's assets.
🏢 Vulcan Materials leases quarries from FRP Holdings under long-term royalty agreements.
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by Emérito Quintana | 07/06/2022 08:43 AM | MLM
🤝 Martin Marietta is another major operator that leases quarries from FRP Holdings.
💰 FRP Holdings sold Bluegrass Materials to Martin Marietta in 2007 for $1.6 billion.
📈 The royalty model provides FRP Holdings with a steady income stream tied to aggregate production.
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by Emérito Quintana | 18/12/2021 09:27 AM | APO
🤝 Apollo is increasing its presence in the insurance sector through strategic acquisitions.
🏦 The market for fixed income replacements in insurance is vast and largely untapped.
📈 Apollo's expertise in credit and private bonds positions it well for future growth.
🛡️ The company is capitalizing on the illiquidity of insurance assets to generate higher returns.
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by Emérito Quintana | 18/12/2021 09:27 AM | FMX
🇲🇽 FEMSA offers exposure to Latin America with an interesting investment profile.
🥤 Its stake in Coca-Cola bottling operations is considered undervalued.
🍺 The company's stake in Heineken is expected to be sold and reinvested wisely.
🛒 FEMSA's convenience store business is becoming a key point for online commerce in Mexico.
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