Summit Materials Inc (SUM) CEO Thomas W. Hill Sells 12,500 Shares

Summit Materials Inc (NYSE:SUM) CEO Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $27.62, for a total transaction of $345,250.00. Following the completion of the transaction, the chief executive officer now directly owns 135,602 shares in the company, valued at approximately $3,745,327.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE:SUM traded down $0.88 on Thursday, reaching $26.85. 594,500 shares of the company’s stock were exchanged, compared to its average volume of 1,293,934. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.17 and a quick ratio of 1.37. The firm has a market capitalization of $3.09 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 1.67 and a beta of 1.71. Summit Materials Inc has a 52-week low of $26.36 and a 52-week high of $34.06.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Tuesday, May 8th. The construction company reported ($0.55) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.04. The company had revenue of $289.92 million for the quarter, compared to analyst estimates of $297.51 million. Summit Materials had a net margin of 6.03% and a return on equity of 10.20%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.49) earnings per share. analysts expect that Summit Materials Inc will post 1.58 EPS for the current fiscal year.



Large investors have recently modified their holdings of the business. Bank of Montreal Can increased its stake in Summit Materials by 310.5% during the fourth quarter. Bank of Montreal Can now owns 3,325 shares of the construction company’s stock worth $104,000 after purchasing an additional 2,515 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Summit Materials during the first quarter worth about $123,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Summit Materials by 39.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,998 shares of the construction company’s stock worth $220,000 after purchasing an additional 1,985 shares during the period. Global X Management Co. LLC increased its stake in Summit Materials by 77.6% during the fourth quarter. Global X Management Co. LLC now owns 7,585 shares of the construction company’s stock worth $238,000 after purchasing an additional 3,315 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Summit Materials during the first quarter worth approximately $244,000.

A number of research analysts have commented on the stock. SunTrust Banks decreased their target price on shares of Summit Materials from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, May 30th. Zacks Investment Research cut shares of Summit Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. ValuEngine cut shares of Summit Materials from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. TheStreet raised shares of Summit Materials from a “c” rating to a “b” rating in a research report on Monday, March 19th. Finally, Jefferies Financial Group assumed coverage on shares of Summit Materials in a research report on Tuesday, April 17th. They issued a “buy” rating and a $36.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $33.15.

Summit Materials Company Profile

Summit Materials, Inc, together with its subsidiaries, produces and sells construction materials and related downstream products. Its products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products. The company also provides paving and related services to private and public infrastructure sectors.

Insider Buying and Selling by Quarter for Summit Materials (NYSE:SUM)

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