Summit Materials, Inc. (SUM) EVP Damian John Murphy Sells 115,118 Shares
Summit Materials, Inc. (NYSE:SUM) EVP Damian John Murphy sold 115,118 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $31.75, for a total value of $3,654,996.50. Following the completion of the transaction, the executive vice president now owns 66,440 shares in the company, valued at $2,109,470. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Summit Materials, Inc. (NYSE SUM) traded down $0.88 during trading on Thursday, reaching $30.22. The company had a trading volume of 981,078 shares, compared to its average volume of 1,450,319. Summit Materials, Inc. has a one year low of $22.19 and a one year high of $32.69. The company has a market cap of $3,430.58, a PE ratio of 34.38, a P/E/G ratio of 2.94 and a beta of 1.97. The company has a current ratio of 2.59, a quick ratio of 2.01 and a debt-to-equity ratio of 1.48.
Summit Materials (NYSE:SUM) last announced its earnings results on Monday, October 30th. The construction company reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.10). Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. The company had revenue of $634.18 million during the quarter, compared to the consensus estimate of $558.93 million. During the same period in the prior year, the business posted $0.73 earnings per share. Summit Materials’s revenue for the quarter was up 19.8% compared to the same quarter last year. equities research analysts anticipate that Summit Materials, Inc. will post 1.01 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on SUM shares. Zacks Investment Research downgraded Summit Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Royal Bank of Canada restated a “buy” rating on shares of Summit Materials in a research note on Thursday, November 2nd. Bank of America raised their price target on Summit Materials from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Canaccord Genuity restated a “buy” rating and issued a $12.50 price target on shares of Summit Materials in a research note on Wednesday, November 8th. Finally, SunTrust Banks set a $38.00 target price on Summit Materials and gave the stock a “buy” rating in a report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $31.50.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Summit Materials by 0.8% during the second quarter. Vanguard Group Inc. now owns 8,524,048 shares of the construction company’s stock valued at $246,089,000 after acquiring an additional 70,684 shares during the period. Janus Henderson Group PLC raised its holdings in Summit Materials by 42.5% during the third quarter. Janus Henderson Group PLC now owns 6,012,622 shares of the construction company’s stock valued at $192,584,000 after acquiring an additional 1,792,448 shares during the period. Jennison Associates LLC raised its holdings in Summit Materials by 32.9% during the third quarter. Jennison Associates LLC now owns 5,193,672 shares of the construction company’s stock valued at $166,353,000 after acquiring an additional 1,285,287 shares during the period. Goldman Sachs Group Inc. raised its holdings in Summit Materials by 23.9% during the second quarter. Goldman Sachs Group Inc. now owns 3,344,808 shares of the construction company’s stock valued at $96,565,000 after acquiring an additional 645,543 shares during the period. Finally, Westfield Capital Management Co. LP raised its holdings in Summit Materials by 11.9% during the third quarter. Westfield Capital Management Co. LP now owns 3,344,408 shares of the construction company’s stock valued at $107,121,000 after acquiring an additional 354,922 shares during the period.
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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.
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