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 business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $28.56, for a total transaction of $357,000.00. Following the transaction, the insider now directly owns 170,610 shares in the company, valued at approximately $4,872,621.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Summit Materials, Inc. (SUM) traded up 1.35% on Monday, reaching $28.53. 566,492 shares of the company’s stock were exchanged. The company has a market capitalization of $3.07 billion, a PE ratio of 63.40 and a beta of 2.06. Summit Materials, Inc. has a 1-year low of $17.27 and a 1-year high of $29.72. The company has a 50 day moving average price of $28.76 and a 200-day moving average price of $26.40.
Summit Materials (NYSE:SUM) last posted its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.57 by $0.09. The business had revenue of $478.37 million during the quarter, compared to analysts’ expectations of $469.91 million. Summit Materials had a net margin of 2.46% and a return on equity of 9.90%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. On average, equities research analysts anticipate that Summit Materials, Inc. will post $1.23 earnings per share for the current year.
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Several research analysts have recently weighed in on the stock. BidaskClub raised shares of Summit Materials from a “strong sell” rating to a “sell” rating in a research report on Thursday. Royal Bank Of Canada reissued an “outperform” rating and set a $35.00 price target (up previously from $33.00) on shares of Summit Materials in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Summit Materials from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 5th. TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $35.00 price target on shares of Summit Materials in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.43.
Several institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its position in Summit Materials by 1.0% in the first quarter. Wells Fargo & Company MN now owns 210,572 shares of the construction company’s stock valued at $5,204,000 after buying an additional 2,098 shares in the last quarter. Russell Investments Group Ltd. raised its position in Summit Materials by 28.4% in the first quarter. Russell Investments Group Ltd. now owns 1,255,479 shares of the construction company’s stock valued at $31,015,000 after buying an additional 277,795 shares in the last quarter. Strs Ohio purchased a new position in Summit Materials during the first quarter valued at $192,000. Moody Aldrich Partners LLC purchased a new position in Summit Materials during the first quarter valued at $486,000. Finally, Nationwide Fund Advisors raised its position in Summit Materials by 341.2% in the first quarter. Nationwide Fund Advisors now owns 568,195 shares of the construction company’s stock valued at $14,040,000 after buying an additional 439,414 shares in the last quarter.
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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