Summit Materials, Inc. (SUM) Insider Sells $401,375.00 in Stock
Summit Materials, Inc. (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $32.11, for a total transaction of $401,375.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Summit Materials, Inc. (NYSE SUM) opened at 31.29 on Friday. Summit Materials, Inc. has a 52 week low of $18.05 and a 52 week high of $32.69. The firm has a 50 day moving average of $31.12 and a 200-day moving average of $31.12. The company has a market capitalization of $3.36 billion, a P/E ratio of 69.53 and a beta of 2.08.
Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, August 2nd. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.09). The company had revenue of $478.37 million during the quarter, compared to the consensus estimate of $469.91 million. Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $0.46 EPS. On average, analysts forecast that Summit Materials, Inc. will post $1.19 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Summit Materials, Inc. (SUM) Insider Sells $401,375.00 in Stock” was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.watchlistnews.com/summit-materials-inc-sum-insider-sells-401375-00-in-stock/1616984.html.
Several brokerages recently issued reports on SUM. Royal Bank Of Canada lifted their price target on shares of Summit Materials from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. BidaskClub downgraded shares of Summit Materials from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a report on Friday, July 14th. Two research 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 has a consensus rating of “Hold” and an average price target of $30.33.
Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Summit Materials by 67.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,503 shares of the construction company’s stock valued at $111,000 after buying an additional 1,819 shares during the last quarter. SG Americas Securities LLC raised its holdings in Summit Materials by 27.8% in the 1st quarter. SG Americas Securities LLC now owns 7,300 shares of the construction company’s stock valued at $180,000 after buying an additional 1,589 shares during the last quarter. ARP Americas LLC bought a new position in Summit Materials in the 2nd quarter valued at approximately $211,000. Strs Ohio bought a new position in Summit Materials in the 1st quarter valued at approximately $192,000. Finally, Teacher Retirement System of Texas bought a new position in Summit Materials in the 1st quarter valued at approximately $209,000.
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.
Receive News & Ratings for Summit Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.