Summit Materials, Inc. (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction on Friday, August 11th. The shares were sold at an average price of $28.56, for a total transaction of $357,000.00. Following the completion of the transaction, the insider now directly owns 170,610 shares in the company, valued at $4,872,621.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Summit Materials, Inc. (NYSE SUM) opened at 28.53 on Tuesday. The firm has a 50-day moving average of $28.76 and a 200 day moving average of $26.40. Summit Materials, Inc. has a 52 week low of $17.27 and a 52 week high of $29.72. The firm has a market capitalization of $3.07 billion, a PE ratio of 63.40 and a beta of 2.06.
Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, August 2nd. The construction company reported $0.48 earnings per share (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 net margin of 2.46% and a return on equity of 9.90%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. Analysts predict that Summit Materials, Inc. will post $1.23 earnings per share for the current year.
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A number of equities analysts have recently commented on SUM shares. TheStreet cut shares of Summit Materials from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Zacks Investment Research raised shares of Summit Materials from a “sell” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, May 9th. Longbow Research started coverage on shares of Summit Materials in a report on Thursday, June 8th. They issued a “buy” rating and a $34.00 target price on the stock. BidaskClub raised shares of Summit Materials from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $33.00 target price on shares of Summit Materials in a report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Summit Materials presently has a consensus rating of “Buy” and an average price target of $30.43.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 period. SG Americas Securities LLC raised its position 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 period. ARP Americas LLC acquired a new position in shares of Summit Materials during the second quarter worth approximately $211,000. Strs Ohio acquired a new position in shares of Summit Materials during the first quarter worth approximately $192,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Summit Materials during the first quarter worth 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.
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