Citadel Advisors LLC Cuts Position in Summit Materials Inc (SUM)

Citadel Advisors LLC reduced its stake in Summit Materials Inc (NYSE:SUM) by 69.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,965 shares of the construction company’s stock after selling 632,382 shares during the quarter. Citadel Advisors LLC owned 0.25% of Summit Materials worth $8,802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SUM. Janus Henderson Group PLC lifted its position in Summit Materials by 42.5% in the 3rd 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 in the last quarter. Jennison Associates LLC lifted its position in Summit Materials by 32.9% in the 3rd 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 in the last quarter. Banbury Partners LLC bought a new stake in Summit Materials in the 3rd quarter valued at $28,025,000. Victory Capital Management Inc. lifted its position in Summit Materials by 62.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,668,007 shares of the construction company’s stock valued at $53,426,000 after acquiring an additional 639,312 shares in the last quarter. Finally, Impala Asset Management LLC lifted its position in Summit Materials by 35.2% in the 3rd quarter. Impala Asset Management LLC now owns 1,904,025 shares of the construction company’s stock valued at $60,986,000 after acquiring an additional 495,897 shares in the last quarter.

Several equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Summit Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. TheStreet cut shares of Summit Materials from a “b” rating to a “c” rating in a research report on Thursday, February 8th. Deutsche Bank boosted their price objective on shares of Summit Materials from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Bank of America boosted their price objective on shares of Summit Materials from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Summit Materials in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Summit Materials currently has a consensus rating of “Buy” and a consensus target price of $33.28.

In other Summit Materials news, insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $28.85, for a total transaction of $360,625.00. Following the sale, the insider now directly owns 160,548 shares of the company’s stock, valued at approximately $4,631,809.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Damian John Murphy sold 115,118 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $31.75, for a total transaction of $3,654,996.50. Following the sale, the executive vice president now directly owns 66,440 shares in the company, valued at $2,109,470. The disclosure for this sale can be found here. Insiders have sold a total of 183,918 shares of company stock worth $5,759,424 over the last three months. Insiders own 1.97% of the company’s stock.

Shares of Summit Materials Inc (NYSE SUM) opened at $31.59 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.40 and a current ratio of 3.13. Summit Materials Inc has a 52-week low of $22.19 and a 52-week high of $34.06. The company has a market cap of $3,591.16, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.09 and a beta of 1.81.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.22 by $0.24. Summit Materials had a net margin of 6.19% and a return on equity of 11.51%. The firm had revenue of $490.02 million for the quarter, compared to analysts’ expectations of $449.45 million. During the same period in the previous year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. sell-side analysts anticipate that Summit Materials Inc will post 1.49 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.

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

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