Summit Materials, Inc. (SUM) Insider Sells $372,500.00 in Stock
Summit Materials, Inc. (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $29.80, for a total value of $372,500.00. Following the completion of the transaction, the insider now directly owns 214,310 shares of the company’s stock, valued at approximately $6,386,438. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Summit Materials, Inc. (NYSE:SUM) traded down $0.15 during trading on Friday, hitting $29.60. The stock had a trading volume of 178,031 shares, compared to its average volume of 1,464,212. Summit Materials, Inc. has a one year low of $22.19 and a one year high of $32.69. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.59 and a quick ratio of 2.01. The firm has a market capitalization of $3,230.00 and a P/E ratio of 32.34.
Summit Materials (NYSE:SUM) last released its quarterly earnings data on Monday, October 30th. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.10). Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The firm had revenue of $634.18 million during the quarter, compared to analyst estimates of $558.93 million. During the same period in the prior year, the company earned $0.73 EPS. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. equities research analysts predict that Summit Materials, Inc. will post 1.02 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in SUM. Janus Henderson Group PLC bought a new stake in Summit Materials in the second quarter valued at approximately $121,836,000. FMR LLC boosted its holdings in Summit Materials by 616.9% in the second quarter. FMR LLC now owns 3,014,261 shares of the construction company’s stock valued at $87,021,000 after acquiring an additional 2,593,803 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Summit Materials by 110.7% in the second quarter. Westfield Capital Management Co. LP now owns 2,989,486 shares of the construction company’s stock valued at $86,306,000 after acquiring an additional 1,570,803 shares during the last quarter. Jennison Associates LLC boosted its holdings in Summit Materials by 32.9% in 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 last quarter. Finally, Banbury Partners LLC bought a new stake in Summit Materials in the third quarter valued at approximately $28,025,000.
A number of research firms recently commented on SUM. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $35.00 price target (up previously from $33.00) on shares of Summit Materials in a research note on Wednesday, August 9th. BidaskClub downgraded Summit Materials from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research raised Summit Materials from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 5th. Canaccord Genuity reissued a “buy” rating and set a $12.50 target price on shares of Summit Materials in a research note on Wednesday, November 8th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $35.00 target price on shares of Summit Materials in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $31.42.
About Summit Materials
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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