In this article, I'll look into HeidelbergCement (HDELY) (HLBZF) following their 3Q19 and going into FY19 and 2020. The company is currently my only pure-cement/concrete holding, and was purchased in 2019 during a dip. Returns since that time, both since buying and since the article back in October, have been acceptable - and I seek to increase my stake at correct valuations.
In this article, I'll use the recent quarterly combined with the outlook for 2020 to argue that from a valuation-based standpoint, using historical metrics, some public comps, and potential