Wide-Moat Compass Minerals Finally Gets Some Snow in 4Q; Raising Our FVE to $91
Compass Minerals finally got some snow in the fourth quarter. Through the first three quarters of 2016, highway deicing salt volumes were down 8% from the same period in 2016. But in the fourth quarter of 2016, road salt volume jumped 27% year over year to 3.0 million tons, representing more normal winter weather. Still, road salt prices dropped 8% year over year in the fourth quarter due to price contracts signed amid market weakness and high customer inventories in the summer fill season. We t...Compass Minerals International is a holding company. Through its wholly owned subsidiaries, the company is a provider of minerals, including salt, secondary nutrients and micronutrients, and specialty chemicals. The company has three reportable segments: Salt, which produces, markets and sells salt and magnesium chloride and sodium chloride; Plant Nutrition North America, which includes sales of sulfate of potash specialty fertilizer and specialty plant nutrients; and Plant Nutrition South America, which manufactures, distributes and markets an array of specialty plant nutrients and supplements developed and formulated from primary and secondary nutrients, specialty plant nutrients and biostimulants.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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