Summit Materials, Inc. (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $30.26, for a total transaction of $378,250.00. Following the completion of the transaction, the insider now directly owns 126,810 shares of the company’s stock, valued at approximately $3,837,270.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Summit Materials, Inc. (NYSE SUM) opened at $29.90 on Wednesday. Summit Materials, Inc. has a 52-week low of $22.19 and a 52-week high of $32.69. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.01 and a current ratio of 2.59. The company has a market cap of $3,294.26, a P/E ratio of 33.01, a P/E/G ratio of 2.79 and a beta of 2.04.
Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.10). Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. The company had revenue of $634.18 million for the quarter, compared to analyst estimates of $558.93 million. During the same period last year, the company posted $0.73 EPS. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. equities research analysts expect that Summit Materials, Inc. will post 1.04 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in SUM. Spot Trading L.L.C. purchased a new stake in Summit Materials during the first quarter worth approximately $545,000. Principal Financial Group Inc. grew its stake in Summit Materials by 96.9% during the first quarter. Principal Financial Group Inc. now owns 21,368 shares of the construction company’s stock worth $528,000 after buying an additional 10,515 shares during the period. FMR LLC grew its stake in Summit Materials by 2.1% during the first quarter. FMR LLC now owns 420,458 shares of the construction company’s stock worth $10,390,000 after buying an additional 8,500 shares during the period. Teachers Advisors LLC grew its stake in Summit Materials by 24.1% during the first quarter. Teachers Advisors LLC now owns 548,985 shares of the construction company’s stock worth $13,565,000 after buying an additional 106,581 shares during the period. Finally, Legal & General Group Plc grew its stake in Summit Materials by 37.5% during the first quarter. Legal & General Group Plc now owns 77,227 shares of the construction company’s stock worth $1,911,000 after buying an additional 21,045 shares during the period.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of 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 price target on shares of Summit Materials and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Bank of America Corporation upped their price target on shares of Summit Materials from $33.00 to $34.00 and gave the stock 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 price target on shares of Summit Materials in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Summit Materials currently has a consensus rating of “Buy” and an average price target of $30.79.
About Summit Materials
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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