Summit Materials Inc (SUM) Insider Thomas W. Hill Sells 12,500 Shares
Summit Materials Inc (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $26.94, for a total transaction of $336,750.00. Following the sale, the insider now directly owns 20,610 shares of the company’s stock, valued at approximately $555,233.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Thomas W. Hill also recently made the following trade(s):
- On Tuesday, February 28th, Thomas W. Hill sold 10,000 shares of Summit Materials stock. The stock was sold at an average price of $24.09, for a total transaction of $240,900.00.
Shares of Summit Materials Inc (NYSE:SUM) traded up 1.64% during trading on Thursday, reaching $27.28. 1,172,974 shares of the company’s stock traded hands. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 413.33 and a beta of 2.28. The company’s 50-day moving average is $26.25 and its 200 day moving average is $24.60. Summit Materials Inc has a 52-week low of $17.27 and a 52-week high of $28.70.
Summit Materials (NYSE:SUM) last announced its earnings results on Wednesday, May 3rd. The construction company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by $0.02. Summit Materials had a net margin of 3.99% and a return on equity of 17.05%. The company had revenue of $259 million for the quarter, compared to the consensus estimate of $233.63 million. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities analysts forecast that Summit Materials Inc will post $1.39 EPS for the current year.
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A number of equities analysts recently issued reports on the stock. TheStreet cut shares of Summit Materials from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Summit Materials from a “sell” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, May 9th. Finally, Cleveland Research reiterated a “buy” rating on shares of Summit Materials in a research report on Friday, March 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $26.83.
A number of large investors have recently made changes to their positions in SUM. Russell Investments Group Ltd. acquired a new position in Summit Materials during the fourth quarter valued at approximately $23,592,000. Verition Fund Management LLC acquired a new position in Summit Materials during the third quarter valued at approximately $946,000. Lombard Odier Asset Management USA Corp acquired a new position in Summit Materials during the third quarter valued at approximately $12,058,000. Scopus Asset Management L.P. acquired a new position in Summit Materials during the third quarter valued at approximately $7,525,000. Finally, Highbridge Capital Management LLC increased its position in Summit Materials by 743.2% in the third quarter. Highbridge Capital Management LLC now owns 385,000 shares of the construction company’s stock valued at $7,142,000 after buying an additional 339,341 shares during the period. Institutional investors and hedge funds own 78.73% of the company’s stock.
About Summit Materials
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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