Summit Materials, Inc. (NYSE:SUM) CEO Thomas W. Hill sold 6,300 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $28.74, for a total transaction of $181,062.00. Following the transaction, the chief executive officer now directly owns 20,610 shares of the company’s stock, valued at $592,331.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Summit Materials, Inc. (NYSE SUM) opened at 29.51 on Wednesday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 50.27 and a beta of 2.06. The firm has a 50 day moving average of $28.60 and a 200-day moving average of $26.18. Summit Materials, Inc. has a one year low of $17.48 and a one year high of $29.72.
Summit Materials (NYSE:SUM) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.09. Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The company had revenue of $478.37 million for the quarter, compared to the consensus estimate of $469.91 million. During the same period last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts forecast that Summit Materials, Inc. will post $1.23 EPS for the current fiscal year.
A number of brokerages have issued reports on SUM. BidaskClub raised shares of Summit Materials from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $35.00 target price (up from $33.00) on shares of Summit Materials in a report on Wednesday. Zacks Investment Research raised shares of Summit Materials from a “strong sell” rating to a “hold” rating in a research note on Saturday. TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $35.00 price objective on shares of Summit Materials in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $30.43.
Several large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Summit Materials by 67.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,503 shares of the construction company’s stock worth $111,000 after buying an additional 1,819 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Summit Materials by 27.8% in the first quarter. SG Americas Securities LLC now owns 7,300 shares of the construction company’s stock worth $180,000 after buying an additional 1,589 shares during the last quarter. ARP Americas LLC acquired a new stake in shares of Summit Materials during the second quarter worth about $211,000. Strs Ohio acquired a new stake in shares of Summit Materials during the first quarter worth about $192,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Summit Materials during the first quarter worth about $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.
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