Three Peaks Capital Management LLC raised its position in shares of Summit Materials, Inc. (NYSE:SUM) by 40.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,109 shares of the construction company’s stock after purchasing an additional 60,130 shares during the period. Three Peaks Capital Management LLC owned about 0.19% of Summit Materials worth $6,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. raised its position in Summit Materials by 2.7% during the 2nd quarter. American Century Companies Inc. now owns 325,245 shares of the construction company’s stock valued at $9,390,000 after purchasing an additional 8,490 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Summit Materials by 23.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,344,808 shares of the construction company’s stock valued at $96,565,000 after purchasing an additional 645,543 shares in the last quarter. First Trust Advisors LP raised its position in Summit Materials by 210.8% during the 2nd quarter. First Trust Advisors LP now owns 147,795 shares of the construction company’s stock valued at $4,267,000 after purchasing an additional 100,244 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Summit Materials during the 2nd quarter valued at $121,836,000. Finally, Castleark Management LLC bought a new stake in Summit Materials during the 2nd quarter valued at $10,958,000.

In related news, insider Douglas Charles Rauh sold 14,574 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $30.00, for a total transaction of $437,220.00. Following the transaction, the insider now directly owns 21,887 shares of the company’s stock, valued at approximately $656,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas W. Hill sold 12,500 shares of the company’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 transaction, the insider now directly owns 214,310 shares in the company, valued at $6,386,438. The disclosure for this sale can be found here. Over the last three months, insiders sold 271,610 shares of company stock valued at $8,321,282. Corporate insiders own 1.97% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Summit Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. SunTrust Banks, Inc. set a $38.00 target price on Summit Materials and gave the company a “buy” rating in a research report on Tuesday, October 24th. Bank of America Corporation lifted their target price on Summit Materials from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Summit Materials in a research report on Thursday, November 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $12.50 target price on shares of Summit Materials in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.42.

Summit Materials, Inc. (SUM) traded down $0.15 on Friday, hitting $29.60. The stock had a trading volume of 178,031 shares, compared to its average volume of 1,246,298. The company has a market cap of $3,227.01, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 2.77 and a beta of 2.04. 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, Inc. has a 52-week low of $22.19 and a 52-week high of $32.69.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.10). The company had revenue of $634.18 million during the quarter, compared to the consensus estimate of $558.93 million. Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. The company’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share. research analysts forecast that Summit Materials, Inc. will post 1.02 earnings per share for the current fiscal year.

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

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