New York State Common Retirement Fund lowered its stake in shares of Summit Materials Inc (NYSE:SUM) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 334,257 shares of the construction company’s stock after selling 7,800 shares during the quarter. New York State Common Retirement Fund owned about 0.31% of Summit Materials worth $10,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new stake in Summit Materials during the second quarter worth about $121,836,000. FMR LLC lifted its stake in shares of Summit Materials by 616.9% in the second quarter. FMR LLC now owns 3,014,261 shares of the construction company’s stock worth $87,021,000 after buying an additional 2,593,803 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Summit Materials by 110.7% in the second quarter. Westfield Capital Management Co. LP now owns 2,989,486 shares of the construction company’s stock worth $86,306,000 after buying an additional 1,570,803 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Summit Materials by 32.9% in the third quarter. Jennison Associates LLC now owns 5,193,672 shares of the construction company’s stock worth $166,353,000 after buying an additional 1,285,287 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Summit Materials by 23.9% in the second quarter. Goldman Sachs Group Inc. now owns 3,344,808 shares of the construction company’s stock worth $96,565,000 after buying an additional 645,543 shares in the last quarter.
In other Summit Materials news, EVP Damian John Murphy sold 115,118 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $31.75, for a total transaction of $3,654,996.50. Following the completion of the sale, the executive vice president now directly owns 66,440 shares of the company’s stock, valued at $2,109,470. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas Charles Rauh sold 26,324 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $31.36, for a total transaction of $825,520.64. Following the sale, the insider now directly owns 18,724 shares of the company’s stock, valued at $587,184.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,942 shares of company stock worth $6,396,392. 1.97% of the stock is owned by insiders.
Shares of Summit Materials Inc (NYSE SUM) traded up $0.60 during trading on Thursday, reaching $31.65. 1,065,400 shares of the company were exchanged, compared to its average volume of 1,180,287. The company has a market capitalization of $3,590.00 and a P/E ratio of 46.54. Summit Materials Inc has a 12 month low of $22.19 and a 12 month high of $32.69. The company has a current ratio of 2.59, a quick ratio of 2.01 and a debt-to-equity ratio of 1.48.
Summit Materials (NYSE:SUM) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.10). The company had revenue of $634.18 million for the quarter, compared to the consensus estimate of $558.93 million. Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. equities research analysts predict that Summit Materials Inc will post 0.97 earnings per share for the current fiscal year.
WARNING: This piece of content was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://stocknewstimes.com/2018/01/11/new-york-state-common-retirement-fund-sells-7800-shares-of-summit-materials-inc-sum.html.
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.
Receive News & Ratings for Summit Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials and related companies with MarketBeat.com's FREE daily email newsletter.