Summit Materials, Inc. (NYSE:SUM) CEO Thomas W. Hill sold 6,300 shares of the company’s 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 sale, the chief executive officer now directly owns 20,610 shares of the company’s stock, valued at approximately $592,331.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Summit Materials, Inc. (SUM) traded down 1.70% on Wednesday, hitting $28.40. 763,344 shares of the stock were exchanged. The firm has a market cap of $3.02 billion, a PE ratio of 430.30 and a beta of 2.09. The company has a 50-day moving average price of $28.39 and a 200-day moving average price of $25.92. Summit Materials, Inc. has a 52-week low of $17.27 and a 52-week high of $29.67.
Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, May 3rd. The construction company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by $0.02. The company had revenue of $259 million for the quarter, compared to analysts’ expectations of $233.63 million. Summit Materials had a net margin of 0.33% and a return on equity of 10.00%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.42) EPS. On average, equities research analysts anticipate that Summit Materials, Inc. will post $1.32 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of SUM. Nationwide Fund Advisors raised its position in shares of Summit Materials by 341.2% in the first quarter. Nationwide Fund Advisors now owns 568,195 shares of the construction company’s stock valued at $14,040,000 after buying an additional 439,414 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Summit Materials during the first quarter valued at approximately $410,000. Boston Advisors LLC acquired a new position in shares of Summit Materials during the first quarter valued at approximately $9,890,000. Fox Run Management L.L.C. acquired a new position in shares of Summit Materials during the first quarter valued at approximately $447,000. Finally, Skylands Capital LLC raised its position in shares of Summit Materials by 52.1% in the first quarter. Skylands Capital LLC now owns 138,806 shares of the construction company’s stock valued at $3,430,000 after buying an additional 47,568 shares during the last quarter.
Several equities research analysts recently weighed in on the stock. BidaskClub raised shares of Summit Materials from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Zacks Investment Research cut shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. TheStreet cut shares of Summit Materials from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $33.00 price objective on shares of Summit Materials in a research report on Monday, June 19th. Finally, Longbow Research assumed coverage on shares of Summit Materials in a research report on Thursday, June 8th. They set a “buy” rating and a $34.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.86.
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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