Summit Materials Inc (NYSE:SUM) insider Anne Lee Benedict sold 10,000 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $32.57, for a total value of $325,700.00. Following the sale, the insider now owns 16,775 shares in the company, valued at $546,361.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Anne Lee Benedict also recently made the following trade(s):
- On Tuesday, February 27th, Anne Lee Benedict sold 26,167 shares of Summit Materials stock. The shares were sold at an average price of $32.32, for a total value of $845,717.44.
Shares of Summit Materials Inc (NYSE SUM) traded down $0.84 during trading on Wednesday, hitting $30.97. The stock had a trading volume of 1,449,793 shares, compared to its average volume of 1,288,094. The firm has a market capitalization of $3,521.75, a PE ratio of 29.48, a PEG ratio of 2.05 and a beta of 1.72. Summit Materials Inc has a 1-year low of $22.19 and a 1-year high of $34.06. The company has a current ratio of 3.13, a quick ratio of 2.40 and a debt-to-equity ratio of 1.42.
Several research firms recently commented on SUM. Citigroup raised their target price on Summit Materials from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Deutsche Bank lifted their price target on Summit Materials from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Royal Bank of Canada set a $37.00 price target on Summit Materials and gave the company a “buy” rating in a research report on Thursday, February 15th. Zacks Investment Research upgraded Summit Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, ValuEngine raised Summit Materials from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $33.28.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SUM. Xact Kapitalforvaltning AB bought a new position in Summit Materials during the fourth quarter valued at about $285,000. Pier Capital LLC increased its stake in shares of Summit Materials by 98.6% in the fourth quarter. Pier Capital LLC now owns 194,077 shares of the construction company’s stock worth $6,102,000 after purchasing an additional 96,370 shares during the period. MetLife Investment Advisors LLC bought a new position in shares of Summit Materials in the fourth quarter worth about $1,613,000. Westwood Holdings Group Inc. increased its stake in shares of Summit Materials by 45.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,700,283 shares of the construction company’s stock worth $53,457,000 after purchasing an additional 527,632 shares during the period. Finally, Castleark Management LLC increased its stake in shares of Summit Materials by 1.0% in the fourth quarter. Castleark Management LLC now owns 567,425 shares of the construction company’s stock worth $17,840,000 after purchasing an additional 5,725 shares during the period.
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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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