Streetbeat News

SUM

Summit Materials, Inc.

Industry

Construction Materials

Summit Materials, Inc., through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, and residential and nonresidential end markets. It operates through three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components. It also provides asphalt paving and related services to the private and public infrastructure sectors. In addition, the company operates municipal waste, construction, and demolition debris landfills; and liquid asphalt terminals. It has operations in the United States; and in British Columbia, Canada. The company was founded in 2009 and is headquartered in Denver, Colorado.

Open

50.86

Mkt cap

8.9B

Volume

1.9M

High

50.92

P/E Ratio

59.74

52-wk high

53.49

Low

50.75

Div yield

N/A

52-wk low

34.38

Summit Materials' subsidiary, Continental Cement, has signed a Memorandum of Understanding (MoU) with PCC Hydrogen to explore opportunities to reduce carbon emissions. The collaboration aims to leverage PCC Hydrogen's expertise in hydrogen production and utilization to lower the carbon footprint of Continental Cement's operations.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 11:48 am

The article lists the stocks that gained and lost in Thursday's mid-day session. Notable gainers include SeaStar Medical Holding Corporation, Outlook Therapeutics, Inc., and Netflix, Inc., which reported better-than-expected results for its third quarter. On the other hand, notable losers include Nxu, Inc., Perception Capital Corp. II, and Nokia Oyj, which reported downbeat quarterly results and announced a headcount reduction.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 5:52 pm

Summit Materials has received a revised proposal to acquire all of its fully diluted equity interests for $38.00 per share. This has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:51 pm

Several US-listed stocks recorded gains in Thursday's trading session. Notable movers include Lindsay Corporation, Netflix, PTC Therapeutics, Nano Dimension, Summit Materials, TROOPS, Chijet Motor Company, Minerals Technologies, Ultragenyx Pharmaceutical, Badger Meter, AT&T, SAP, Union Pacific, Las Vegas Sands, Taiwan Semiconductor Manufacturing Company, and American Airlines Group. The gains were largely driven by better-than-expected quarterly results, upgrades, and strategic agreements.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 1:57 pm

Summit Materials has filed a preliminary M&A-related proxy statement, causing its shares to spike higher.

Portfolio Pulse from Charles Gross

October 19, 2023 | 11:47 am

Over the past 3 months, 13 analysts have published their opinion on Summit Materials (NYSE:SUM) stock. The average price target for the stock is $43.0, an increase of 13.97% from the previous average price target of $37.73. The majority of the ratings are bullish.

Portfolio Pulse from Benzinga Insights

September 12, 2023 | 5:00 pm

Truist Securities analyst Rohit Seth maintains a 'Buy' rating on Summit Materials (NYSE:SUM) but has lowered the price target from $48 to $43.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 3:44 pm

The article lists the top 5 oversold stocks in the materials sector, which could present an opportunity for investors. The companies mentioned are Summit Materials, Inc. (SUM), Stepan Company (SCL), Sibanye Stillwater Limited (SBSW), Compass Minerals International, Inc. (CMP), and FMC Corporation (FMC). The oversold status is determined by the Relative Strength Index (RSI), which is below 30 for all these companies.

Portfolio Pulse from Lisa Levin

September 11, 2023 | 12:10 pm

Wolfe Research analyst Timna Tanners has downgraded Summit Materials (NYSE:SUM) from Outperform to Peer Perform.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 11:52 am

Summit Materials, Inc. (NYSE:SUM) announced a combination with Argos North America Corp. (Argos USA) in a cash and stock transaction valued at $3.2 billion. The deal will create the fourth-largest cement platform in the U.S. and accelerate Summit's 'Elevate Summit' strategy. Cementos Argos will receive approximately $1.2 billion in cash and approximately 54.7 million shares of Summit stock. The combined company will continue to operate as Summit Materials and trade on the NYSE under the ticker symbol 'SUM'. Following the announcement, SUM shares are trading lower by 7.92% to $33.15.

Portfolio Pulse from Nabaparna Bhattacharya

September 07, 2023 | 3:45 pm

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