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The Wax Report - Week Ending 01/13/2017

January 14, 2017 – Comments (0) | RELATED TICKERS: AGCO , NPO , PBF

The artfully managed Wax Ink Portfolio was down 1.0% for the week.

By comparison, the Dow was down 0.4%, the Nasdaq was up 1.0%, the S&P 500 was down 0.1%, the Russell 2000 was up 0.4%, and the Volatility Index, commonly known as the VIX, was down 0.8%.

Year to date, the Wax Ink portfolio is down 0.2%, the Dow is up 0.6%, the Nasdaq is up 3.5%, the S&P 500 is up 1.6%, the Russell 2000 is up 1.1%, and the VIX is lower by 20.0%.

Portfolio Summary
The portfolio breakdown is roughly 52% cash, 48% equities, and 0% bonds. The current value of portfolio cash on a per share basis is $25.41 and the current value of portfolio equities on a per share basis is $23.25, making the average per share price $48.66. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $29.23 and the average market closing price of all equities held in the Wax Ink Portfolio is $25.65, making the current portfolio growth potential factor 12.2%.

Hydrocarbon Prices
WTI Crude ended the week at $52.37, down 3.0%, while Brent Crude ended the week at $55.45, down 2.9%, creating a crude price spread of $3.08, a decrease of 1.0%. Distillate RBOB Gasoline ended the week at $1.6117, down 1.4%, and Heating Oil ended the week at $1.6514, down 3.0%, moving the Gulf Coast 3:2:1 Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3) to $15.88, an increase of 1.7% for the week. Natural Gas ended the week at $3.42, up 4.0%.

Year to date WTI Crude is lower by 2.5%, Brent Crude is lower by 2.4%, Natural Gas is lower by 8.1%, RBOB Gasoline is lower by 3.5%, Heating Oil is lower by 4.4%, and the Gulf Coast 3:2:1 Crack Spread is lower by 8.0%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 1.88, down 0.5%, while the 10 Year Treasury ended the week at 2.38, down 0.8%. The 5 Year AAA Municipal Bond ended the week at 1.33, down 11.9%, and the 10 Year AAA Municipal Bond ended the week at 2.16, down 5.7%. Lastly, the 5 Year AAA Corporate closed the week at 2.10, up 2.4%, with the 10 Year AAA Corporate ending the week down 0.7% at $2.96.

Year to date the 5 Year Treasury is down 0.5%, the 10 Year Treasury is down 1.7%, the 5 Year AAA Muni is down 24.4%, the 10 year AAA Muni is down 15.6%, the 5 Year AAA Corporate is down 1.9%, and the 10 Year AAA Corporate is down 2.3%.

Fair Warning
Please remember that the minimum holding time for shares in the Wax Ink portfolio is 60 months (1825 days), and unless otherwise stated, I have no position in any stock mentioned in this report.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

AGCO Corporation (Nasdaq: AGCO) - FYE 12/2015
EnPro Industries, Inc. (NYSE: NPO) - FYE 12/2015
PBF Energy, Inc. (NYSE: PBF) - FYE 12/2015
Roper Technologies, Inc. (NYSE: ROP) - FYE 12/2015

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's most recent annual financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

AGCO Corporation - $52-$59
EnPro Industries, Inc. - $26-$34
PBF Energy, Inc. - $42-$44
Roper Technologies, Inc. - $55-$72

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

AGCO Corporation - $49
EnPro Industries, Inc. - $66
PBF Energy, Inc. - $69
Roper Technologies, Inc. - $184

Investment Summaries
AGCO Corporation - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

EnPro Industries, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

PBF Energy, Inc. - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

Roper Technologies, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)


Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2016 Wax Ink  [more]

Recs

1

The Wax Report - Week Ending 01/06/2017

January 07, 2017 – Comments (1) | RELATED TICKERS: GNTX , SUP , TAP

The haphazardly managed Wax Ink Portfolio was up 0.7% for the week.

By comparison, the Dow was down 1.0%, the Nasdaq was up 2.6%, the S&P 500 was up 1.7%, the Russell 2000 was up 0.7%, and the Volatility Index, commonly known as the VIX, was down 19.4%.

Year to date, the Wax Ink portfolio is up 0.7%, the Dow is up 1.0%, the Nasdaq is up 2.6%, the S&P 500 is up 1.7%, the Russell 2000 is up 0.7%, and the VIX is lower by 19.4%.

Portfolio Summary
The portfolio breakdown is roughly 52% cash, 48% equities, and 0% bonds. The current value of portfolio cash on a per share basis is $25.41 and the current value of portfolio equities on a per share basis is $23.72, making the average per share price $49.13. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $29.23 and the average market closing price of all equities held in the Wax Ink Portfolio is $26.02, making the current portfolio growth potential factor 11.0%.

Hydrocarbon Prices
WTI Crude ended the week at $53.99, up 0.5%, while Brent Crude ended the week at $57.10, up 0.5%, creating a crude price spread of $3.11, an increase of 0.3%. Distillate RBOB Gasoline ended the week at $1.6340, down 2.2%, and Heating Oil ended the week at $1.7032, down 1.4%, moving the Gulf Coast 3:2:1 Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3) to $15.61, a decrease of 9.6% for the week. Natural Gas ended the week at $3.29, down 11.6%.

Year to date WTI Crude is higher by 0.5%, Brent Crude is higher by 0.5%, Natural Gas is lower by 11.6%, RBOB Gasoline is lower by 2.2%, Heating Oil is lower by 1.4%, and the Gulf Coast 3:2:1 Crack Spread is lower by 9.6%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 1.89, unchanged, while the 10 Year Treasury ended the week at 2.40, down 0.8%. The 5 Year AAA Municipal Bond ended the week at 1.51, down 14.2%, and the 10 Year AAA Municipal Bond ended the week at 2.29, down 10.5%. Lastly, the 5 Year AAA Corporate closed the week at 2.05, down 0.5%, with the 10 Year AAA Corporate ending the week down 1.7% at $2.98.

Year to date the 5 Year Treasury is unchanged, the 10 Year Treasury is down 0.8%, the 5 Year AAA Muni is down 14.2%, the 10 year AAA Muni is down 10.5%, the 5 Year AAA Corporate is down 0.5%, and the 10 Year AAA Corporate is down 1.7%.

Fair Warning
Please remember that the minimum holding time for shares in the Wax Ink portfolio is 60 months (1825 days), and unless otherwise stated, I have no position in any stock mentioned in this report.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

Gentex Corporation (Nasdaq: GNTX) - FYE 12/2015
Superior Industries International, Inc. (NYSE: SUP) - FYE 12/2015
Molson Coors Brewing Company (NYSE: TAP) - FYE 12/2015
Heska Corporation (Nasdaq: HSKA) - FYE 12/2015

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's most recent annual financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

Gentex Corporation - $25-$33
Superior Industries International, Inc. - $30-$38
Molson Coors Brewing Company - $21-$30
Heska Corporation - $28-$38

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

Gentex Corporation - $21
Superior Industries International, Inc. - $32
Molson Coors Brewing Company - $99
Heska Corporation - $78

Investment Summaries
Gentex Corporation - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

Superior Industries International, Inc. - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

Molson Coors Brewing Company - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Heska Corporation - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)


Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2017 Wax Ink  [more]

Recs

1

The Wax Report - Week Ending 12/30/2016

December 31, 2016 – Comments (0) | RELATED TICKERS: DNR , FANG , NBL

The wretchedly managed Wax Ink Portfolio was down 0.7% overall for the week.

By comparison, the Dow was down 0.9%, the Nasdaq was down 1.5%, the S&P 500 was down 1.1%, the Russell 2000 was down 1.0%, and the Volatility Index, commonly known as the VIX, was up 22.7%.

Year to date, the Wax Ink portfolio is down 21.1% on a per share held basis, the Dow is up 13.4%, the Nasdaq is up 7.5%, the S&P 500 is up 9.5%, the Russell 2000 is up 19.5%, and the VIX is lower by 22.9%.

Portfolio Summary
The portfolio breakdown is roughly 52% cash, 48% equities, and 0% bonds. The current value of portfolio cash on a per share basis is $25.41 and the current value of portfolio equities on a per share basis is $23.36, making the average per share price $48.77. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $29.23 and the average market closing price of all equities held in the Wax Ink Portfolio is $25.58, making the current portfolio growth potential factor 12.50%.

Year End Portfolio Summary
The portfolio appeared to suffer during the year with all of the repositioning of assets, the changing of the number of shares held, the different entry and exit points, and all of the things that happen behind the scenes so to speak. As I have said in years past, I make allowances for this activity once a year, and that is at the end of the year.

For 2016 the portfolio ended up holding thirteen stocks, two more than at the close of 2015. In addition, the portfolio contained 29% more shares than it did in 2015, and because of the reallocation of assets, the portfolio ended 2016 with 5% less cash than in 2015. Factoring all of these things together leads to one question and that one question is the basis for sound portfolio management. If I start the year with X amount and end the year with Y amount, what was my return? That's really all that matters, the stuff that happens in the middle simply isn't as important as the starting and ending numbers.

So doing the math, (2016 less 2015 divided by 2015) the Wax Ink Portfolio ended the year up 2.10%.

Hydrocarbon Prices
Two numbers often watched by oil traders are the Crude Spread (Brent Crude less WTI Crude) as well as the Gulf Coast Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3). These numbers are now apart of The Wax Report.

WTI Crude ended the week at $53.72, up 1.3%, while Brent Crude ended the week at $56.82, up 3.0%, creating a crude price spread of $3.10, an increase of 44.9%. Distillate RBOB Gasoline ended the week at $1.6709, up 2.7%, and Heating Oil ended the week at $1.7282, up 3.9%, moving the Gulf Coast 3:2:1 Crack Spread to $17.26, an increase of 9.3% for the week. Natural Gas ended the week at $3.72, up 1.6%.

Year to date WTI Crude is higher by 45.0%, Brent Crude is higher by 52.4%, Natural Gas is higher by 59%, RBOB Gasoline is higher by 31.5%, Heating Oil is higher by 53.4%, and the Gulf Coast 3:2:1 Crack Spread is higher by 20.5%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 1.89, down 6.0%, while the 10 Year Treasury ended the week at 2.42, down 4.0%. The 5 Year AAA Municipal Bond ended the week at 1.76, up 1.7%, and the 10 Year AAA Municipal Bond ended the week at 2.56, up 3.2%. Lastly, the 5 Year AAA Corporate closed the week at 2.06, down 9.3%, with the 10 Year AAA Corporate ending the week up 2.0% at $3.03.

Year to date the 5 Year Treasury is up 8.6%, the 10 Year Treasury is up 7.6%, the 5 Year AAA Muni is up 41.9%, the 10 year AAA Muni is up 19.6%, the 5 Year AAA Corporate is up 8.4%, and the 10 Year AAA Corporate is up 3.8%.

Fair Warning
Please remember that the minimum holding time for shares in the Wax Ink portfolio is 60 months (1825 days), and unless otherwise stated, I have no position in any stock mentioned in this report.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

Denbury Rersources, Inc. (NYSE: DNR) - FYE 12/2015
Diamondback Energy, Inc. (Nasdaq: FANG) - FYE 12/2015
EP Energy Corporation (NYSE: EPE) - FYE 12/2015
Noble Energy, Inc. (NYSE: NBL) - FYE 12/2015

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's most recent annual financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

Denbury Rersources, Inc. - $3-$7
Diamondback Energy, Inc. - $64-$70
EP Energy Corporation - $29-$36
Noble Energy, Inc. - $31-$37

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

Denbury Rersources, Inc. - ($6)
Diamondback Energy, Inc. - $129
EP Energy Corporation - ($22)
Noble Energy, Inc. - $34

Investment Summaries
Denbury Rersources, Inc. - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

Diamondback Energy, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

EP Energy Corporation - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

Noble Energy, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)


Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2016 Wax Ink  [more]

Recs

1

The Wax Report - Week Ending 12/23/2016

December 24, 2016 – Comments (0) | RELATED TICKERS: WDFC , GBX , SXT

The wretchedly managed Wax Ink Portfolio was up 0.2% overall for the week.

By comparison, the Dow was up 0.5%, the Nasdaq was up 0.5%, the S&P 500 was up 0.3%, the Russell 2000 was up 0.6%, and the Volatility Index, commonly known as the VIX, was down 6.2%.

Year to date, the Wax Ink portfolio is down 20.6% on a per share held basis, the Dow is up 14.4%, the Nasdaq is up 9.1%, the S&P 500 is up 10.8%, the Russell 2000 is up 20.7%, and the VIX is lower by 37.2%.

Portfolio Summary
The portfolio breakdown is roughly 52% cash, 48% equities, and 0% bonds. The current value of portfolio cash on a per share basis is $25.41 and the current value of portfolio equities on a per share basis is $23.70, making the average per share price $49.11. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $29.23 and the average market closing price of all equities held in the Wax Ink Portfolio is $25.93, making the current portfolio growth potential factor 11.31%.

Hydrocarbon Prices
Two numbers often watched by oil traders are the Crude Spread (Brent Crude less WTI Crude) as well as the Gulf Coast Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3). These numbers are now apart of The Wax Report.

WTI Crude ended the week at $53.02, up 2.2%, while Brent Crude ended the week at $55.16, down 0.1%, creating a crude price spread of $2.14, a decline of 35.3%. Distillate RBOB Gasoline ended the week at $1.6262, up 4.4%, and Heating Oil ended the week at $1.6628, down 0.6%, moving the Gulf Coast 3:2:1 Crack Spread to $15.79, an increase of 4.5% for the week. Natural Gas ended the week at $3.66, up 7.0%.

Year to date WTI Crude is higher by 43.1%, Brent Crude is higher by 48.0%, Natural Gas is higher by 56.4%, RBOB Gasoline is higher by 27.9%, Heating Oil is higher by 47.6%, and the Gulf Coast 3:2:1 Crack Spread is higher by 10.3%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 2.01, down 2.0%, while the 10 Year Treasury ended the week at 2.52, down 1.9%. The 5 Year AAA Municipal Bond ended the week at 1.73, down 0.6%, and the 10 Year AAA Municipal Bond ended the week at 2.48, down 0.4%. Lastly, the 5 Year AAA Corporate closed the week at 2.27, up 1.3%, with the 10 Year AAA Corporate ending the week down 6.9% at $2.97.

Year to date the 5 Year Treasury is up 15.5%, the 10 Year Treasury is up 12%, the 5 Year AAA Muni is up 39.5%, the 10 year AAA Muni is up 15.9%, the 5 Year AAA Corporate is up 19.5%, and the 10 Year AAA Corporate is up 1.7%.

Fair Warning
Please remember that the minimum holding time for shares in the Wax Ink portfolio is 60 months (1825 days), and unless otherwise stated, I have no position in any stock mentioned in this report.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

WD-40 Company, Inc. (Nasdaq: WDFC) - FYE 08/2016
The Greenbriar Companies, Inc. (NYSE: GBX) - FYE 08/2016
Sensient Technologies Corporation (NYSE: SXT) - FYE 12/2015
Callon Petroleum Company, Inc. (NYSE: CPE) - FYE 12/2015

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's most recent annual financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

WD-40 Company, Inc. - $48-$55
The Greenbriar Companies, Inc. - $67-$77
Sensient Technologies Corporation - $38-$46
Callon Petroleum Company, Inc. - $2-$5

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

WD-40 Company, Inc. - $112
The Greenbriar Companies, Inc. - $28
Sensient Technologies Corporation - $82
Callon Petroleum Company, Inc. - $18

Investment Summaries
WD-40 Company, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

The Greenbriar Companies, Inc. - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

Sensient Technologies Corporation - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Callon Petroleum Company, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)


Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2016 Wax Ink  [more]

Recs

2

The Wax Report - Week Ending 12/16/2016

December 17, 2016 – Comments (0) | RELATED TICKERS: SPN , ROCK , MON

The unskillfully managed Wax Ink Portfolio was up 0.2% overall for the week.

By comparison, the Dow was up 0.4%, the Nasdaq was down 0.1%, the S&P 500 was down 0.1%, the Russell 2000 was down 1.8%, and the Volatility Index, commonly known as the VIX, was up 3.8%.

Year to date, the Wax Ink portfolio is down 20.8% on a per share held basis, the Dow is up 13.9%, the Nasdaq is up 8.6%, the S&P 500 is up 10.5%, the Russell 2000 is up 20.0%, and the VIX is lower by 33.0%.

Portfolio Summary
The portfolio breakdown is roughly 52% cash, 48% equities, and 0% bonds. The current value of portfolio cash on a per share basis is $25.41 and the current value of portfolio equities on a per share basis is $23.58, making the average per share price $48.99. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $29.23 and the average market closing price of all equities held in the Wax Ink Portfolio is $25.82, making the current portfolio growth potential factor 11.68%.

Hydrocarbon Prices
Two numbers often watched by oil traders are the Crude Spread (Brent Crude less WTI Crude) as well as the Gulf Coast Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3). These numbers are now apart of The Wax Report.

WTI Crude ended the week at $51.90, up 0.8%, while Brent Crude ended the week at $55.21, up 1.6%, creating a crude price spread of $3.31, a gain of 17.0%. Distillate RBOB Gasoline ended the week at $1.5571, up 3.3%, and Heating Oil ended the week at $1.6723, up 2.1%, moving the Gulf Coast 3:2:1 Crack Spread to $15.11, an increase of 10.9% for the week. Natural Gas ended the week at $3.42, up 8.8%.

Year to date WTI Crude is higher by 40.1%, Brent Crude is higher by 48.1%, Natural Gas is higher by 46.2%, RBOB Gasoline is higher by 22.5%, Heating Oil is higher by 48.5%, and the Gulf Coast 3:2:1 Crack Spread is higher by 10.9%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 2.05, up 9.6%, while the 10 Year Treasury ended the week at 2.57, up 5.3%. The 5 Year AAA Municipal Bond ended the week at 1.74, up 5.5%, and the 10 Year AAA Municipal Bond ended the week at 2.49, up 5.5%. Lastly, the 5 Year AAA Corporate closed the week at 2.24, up 6.7%, with the 10 Year AAA Corporate ending the week up 1.9% at $3.19.

Year to date the 5 Year Treasury is up 17.8%, the 10 Year Treasury is up 14.2%, the 5 Year AAA Muni is up 40.3%, the 10 year AAA Muni is up 16.4%, the 5 Year AAA Corporate is up 17.9%, and the 10 Year AAA Corporate is up 9.2%.

Fair Warning
Please remember that the minimum holding time for shares in the Wax Ink portfolio is 60 months (1825 days), and unless otherwise stated, I have no position in any stock mentioned in this report.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

Superior Energy Services, Inc. (NYSE: SPN) - FYE 12/2015
Gibraltar Industries, Inc. (Nasdaq: ROCK) - FYE 12/2015
A. Schulman, Inc. (Nasdaq: SHLM) - FYE 08/2016
Monsanto Company (New) (NYSE: MON) - FYE 08/2016

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's most recent annual financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

Superior Energy Services, Inc. - $33-$38
Gibraltar Industries, Inc. - $20-$26
A. Schulman, Inc. - $11-$17
Monsanto Company (New) - $44-$47

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

Superior Energy Services, Inc. - ($14)
Gibraltar Industries, Inc. - $47
A. Schulman, Inc. - $38
Monsanto Company (New) - $97

Investment Summaries
Investment summaries are determined based on fundamental valuation of the underlying equity AND a consider a minimum hold of 60 months (5 years). Investment summaries were issued during the week for the following companies:

Superior Energy Services, Inc. - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

Gibraltar Industries, Inc. - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

A. Schulman, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Monsanto Company (New) - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)


Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2016 Wax Ink  [more]

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