BP Capital Fund Advisors LLC reduced its position in shares of Summit Materials, Inc. (NYSE:SUM) by 26.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,970 shares of the construction company’s stock after selling 33,745 shares during the quarter. BP Capital Fund Advisors LLC owned about 0.09% of Summit Materials worth $2,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its holdings in Summit Materials by 0.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,539 shares of the construction company’s stock worth $247,000 after purchasing an additional 64 shares during the period. Venturi Wealth Management LLC increased its holdings in Summit Materials by 4.4% during the 2nd quarter. Venturi Wealth Management LLC now owns 8,541 shares of the construction company’s stock worth $247,000 after purchasing an additional 360 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Summit Materials by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock worth $145,000 after purchasing an additional 510 shares during the period. Amalgamated Bank increased its holdings in Summit Materials by 5.5% during the 2nd quarter. Amalgamated Bank now owns 12,940 shares of the construction company’s stock worth $374,000 after purchasing an additional 672 shares during the period. Finally, Princeton Capital Management Inc. increased its holdings in Summit Materials by 2.4% during the 2nd quarter. Princeton Capital Management Inc. now owns 34,915 shares of the construction company’s stock worth $1,008,000 after purchasing an additional 815 shares during the period.

Several research analysts have commented on the company. BidaskClub upgraded Summit Materials from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $35.00 price target (up from $33.00) on shares of Summit Materials in a report on Wednesday, August 9th. Zacks Investment Research upgraded Summit Materials from a “strong sell” rating to a “hold” rating in a report on Saturday, August 5th. TheStreet upgraded Summit Materials from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $35.00 price target on shares of Summit Materials in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $30.43.

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Shares of Summit Materials, Inc. (NYSE SUM) traded up 1.84% on Thursday, hitting $31.52. The stock had a trading volume of 464,699 shares. The stock has a 50 day moving average of $29.83 and a 200 day moving average of $29.83. Summit Materials, Inc. has a 12-month low of $18.05 and a 12-month high of $31.52. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 70.04 and a beta of 2.05.

Summit Materials (NYSE:SUM) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.09). Summit Materials had a net margin of 2.46% and a return on equity of 9.90%. The business had revenue of $478.37 million for the quarter, compared to analysts’ expectations of $469.91 million. During the same period in the prior year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts predict that Summit Materials, Inc. will post $1.19 earnings per share for the current fiscal year.

In other news, insider Thomas W. Hill sold 12,500 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $27.77, for a total transaction of $347,125.00. Following the completion of the sale, the insider now directly owns 20,610 shares of the company’s stock, valued at approximately $572,339.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anne Lee Benedict sold 21,147 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $29.27, for a total value of $618,972.69. Following the sale, the insider now directly owns 20,448 shares of the company’s stock, valued at $598,512.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 622,733 shares of company stock valued at $18,322,921. Insiders own 1.97% of the company’s stock.

Summit Materials Company Profile

Summit Materials, Inc is a construction materials company. The Company operates through three segments: West, East and Cement. As of December 31, 2016, the Company had operations in 21 states in the United States and in British Columbia, Canada. The Company’s materials include aggregates, which it supplies across the United States, and in British Columbia, Canada, and cement, which it supplies along the Mississippi River from Minneapolis to New Orleans.

Institutional Ownership by Quarter for Summit Materials (NYSE:SUM)

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