Pier Capital LLC raised its holdings in shares of Summit Materials Inc (NYSE:SUM) by 98.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 194,077 shares of the construction company’s stock after purchasing an additional 96,370 shares during the quarter. Pier Capital LLC owned 0.18% of Summit Materials worth $6,102,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its stake in Summit Materials by 5.3% during the 4th quarter. BlackRock Inc. now owns 7,056,682 shares of the construction company’s stock valued at $221,864,000 after purchasing an additional 355,922 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Summit Materials by 42.5% in the 3rd quarter. Janus Henderson Group PLC now owns 6,012,622 shares of the construction company’s stock worth $192,584,000 after acquiring an additional 1,792,448 shares in the last quarter. Jennison Associates LLC grew its position in shares of Summit Materials by 11.9% in the 4th quarter. Jennison Associates LLC now owns 5,810,726 shares of the construction company’s stock worth $182,689,000 after acquiring an additional 617,054 shares in the last quarter. Westfield Capital Management Co. LP grew its position in shares of Summit Materials by 11.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,344,408 shares of the construction company’s stock worth $107,121,000 after acquiring an additional 354,922 shares in the last quarter. Finally, Bamco Inc. NY grew its position in shares of Summit Materials by 8.9% in the 3rd quarter. Bamco Inc. NY now owns 3,064,202 shares of the construction company’s stock worth $98,146,000 after acquiring an additional 250,000 shares in the last quarter.
In related news, insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $31.24, for a total transaction of $390,500.00. Following the completion of the transaction, the insider now owns 176,810 shares in the company, valued at approximately $5,523,544.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas W. Hill sold 447,959 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $31.02, for a total value of $13,895,688.18. Following the transaction, the chief executive officer now owns 146,245 shares of the company’s stock, valued at approximately $4,536,519.90. The disclosure for this sale can be found here. Insiders have sold a total of 601,883 shares of company stock valued at $18,757,976 in the last 90 days. Insiders own 1.97% of the company’s stock.
Summit Materials stock opened at $31.11 on Monday. Summit Materials Inc has a 12-month low of $22.19 and a 12-month high of $34.06. The stock has a market capitalization of $3,433.46, a P/E ratio of 26.81, a P/E/G ratio of 1.97 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.40 and a current ratio of 3.13.
Summit Materials (NYSE:SUM) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.24. Summit Materials had a return on equity of 11.51% and a net margin of 6.19%. The business had revenue of $490.02 million during the quarter, compared to analyst estimates of $449.45 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. equities analysts forecast that Summit Materials Inc will post 1.51 earnings per share for the current fiscal year.
Summit Materials 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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