Summit Materials Inc (SUM) EVP Damian John Murphy Sells 32,033 Shares
Summit Materials Inc (NYSE:SUM) EVP Damian John Murphy sold 32,033 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $24.09, for a total value of $771,674.97. Following the transaction, the executive vice president now owns 34,941 shares in the company, valued at $841,728.69. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Summit Materials Inc (NYSE:SUM) traded up 0.69% on Monday, hitting $23.36. The stock had a trading volume of 1,480,021 shares. The company’s 50 day moving average is $24.35 and its 200 day moving average is $22.27. The stock has a market cap of $2.48 billion, a PE ratio of 43.99 and a beta of 2.28. Summit Materials Inc has a one year low of $17.27 and a one year high of $26.46.
Summit Materials (NYSE:SUM) last issued its earnings results on Wednesday, February 22nd. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.04. Summit Materials had a net margin of 3.99% and a return on equity of 17.05%. The company earned $387.40 million during the quarter, compared to analysts’ expectations of $385.35 million. During the same period last year, the business posted $0.34 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Summit Materials Inc will post $1.29 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its position in shares of Summit Materials by 66.1% in the third quarter. Great West Life Assurance Co. Can now owns 8,695 shares of the company’s stock worth $161,000 after buying an additional 3,461 shares during the period. Suntrust Banks Inc. boosted its position in shares of Summit Materials by 12.0% in the third quarter. Suntrust Banks Inc. now owns 12,387 shares of the company’s stock worth $229,000 after buying an additional 1,331 shares during the period. Sei Investments Co. boosted its position in shares of Summit Materials by 23.0% in the third quarter. Sei Investments Co. now owns 12,993 shares of the company’s stock worth $241,000 after buying an additional 2,428 shares during the period. Bayesian Capital Management LP bought a new position in shares of Summit Materials during the fourth quarter worth about $281,000. Finally, AQR Capital Management LLC bought a new position in shares of Summit Materials during the fourth quarter worth about $344,000. 78.73% of the stock is owned by institutional investors.
SUM has been the topic of several recent research reports. TheStreet upgraded Summit Materials from a “sell” rating to a “hold” rating in a report on Wednesday, December 21st. Zacks Investment Research cut Summit Materials from a “hold” rating to a “sell” rating in a report on Tuesday, January 3rd. Finally, SunTrust Banks, Inc. initiated coverage on Summit Materials in a report on Friday, January 20th. They set a “buy” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.43.
Summit Materials Company Profile
Summit Materials, Inc is a construction materials company. The Company operates through three segments: the west segment, which includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming, and in British Columbia, Canada; east segment, which serves markets across the Midwestern and Eastern United States, and Cement segment, which consists of its Hannibal, Missouri and Davenport, Iowa cement plants and approximately eight distribution terminals along the Mississippi River from Minnesota to Louisiana.
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