Trimming HeidelbergCement’s FVE After Release of Full-Year Results; Shares Look Fairly Valued
Following up its release of preliminary results last month, HeidelbergCement released full results for 2016. With most operating results already disclosed, this release largely provided details on the company’s financial statements and allows us to properly update our model. Nevertheless, our long-term outlook remains largely unchanged. As detailed in our November 2016 Basic Materials Observer, “Global Cement Outlook: Geographic Mix Makes Cemex Our Top Pick,†we believe that growth among global ...HeidelbergCement is engaged in the production and distribution of cement and aggregates, concrete and building products. Co.'s product range is complemented by downstream activities, such as ready-mixed concrete, concrete products, and concrete elements; in some countries, asphalt and building products, such as bricks and roof tiles, lime, or sand-lime bricks, are also manufactured. Furthermore, Co. provides services such as worldwide trading in cement and coal by sea. Co.'s products are used for the construction of houses, infrastructure, and commercial and industrial facilities.
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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