Summit Materials (SUM) : Traders are bullish on Summit Materials (SUM) as it has outperformed the S&P 500 by a wide margin of 3.32% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.1%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.61% in the last 1 week, and is up 7.83% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 6% and the 50-Day Moving Average is 2.96%.
Summit Materials (NYSE:SUM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $21.50 and $21.32 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.88. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.62, notching a gain of 1.50% for the day. The total traded volume was 2,012,272 . The stock had closed at $21.30 on the previous day.
The company Insiders own 4.49% of Summit Materials shares according to the proxy statements. Institutional Investors own 38.49% of Summit Materials shares. In a related news, The director officer (President and CEO), of Summit Materials, Inc., Hill Thomas W. had unloaded 10,000 shares at $21.45 per share in a transaction on July 13, 2016. The total value of transaction was $214,500. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Summit Materials, Inc. is a construction material company. The Company offers construction materials and related downstream products. The Companys materials include aggregates, which it supplies across the country, with a focus on Texas, Kansas, Kentucky, Utah and Missouri and cement, which the Company supplies in Missouri, Iowa and Illinois. In addition to supplying aggregates, it uses its materials to produce ready-mixed concrete and asphalt paving mix. The Company operates through three segments: West, Central and East. The Companys West region includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming and in British Columbia, Canada. The Companys Central region extends across the Midwestern United States, including Kansas, Missouri, Nebraska, Iowa and Illinois. The Companys East region serves markets in Kentucky, South Carolina, North Carolina, Tennessee and Virginia.