Summit Materials, Inc. (NYSE:SUM) CEO Thomas W. Hill sold 6,300 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $30.27, for a total transaction of $190,701.00. Following the transaction, the chief executive officer now directly owns 170,610 shares of the company’s stock, valued at approximately $5,164,364.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Summit Materials, Inc. (SUM) traded up 1.09% on Friday, reaching $30.62. 1,072,224 shares of the company traded hands. Summit Materials, Inc. has a 52-week low of $17.27 and a 52-week high of $30.90. The stock has a 50-day moving average price of $28.71 and a 200-day moving average price of $26.87. The firm has a market cap of $3.29 billion, a P/E ratio of 68.04 and a beta of 2.05.

Summit Materials (NYSE:SUM) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.57 by $0.09. Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The business had revenue of $478.37 million during the quarter, compared to analyst estimates of $469.91 million. During the same quarter last year, the firm earned $0.46 EPS. Summit Materials’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts anticipate that Summit Materials, Inc. will post $1.22 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the business. BP Capital Fund Advisors LLC acquired a new stake in Summit Materials in the 1st quarter worth about $3,181,000. Steadfast Capital Management LP raised its stake in Summit Materials by 4.3% in the 1st quarter. Steadfast Capital Management LP now owns 1,654,509 shares of the construction company’s stock worth $40,883,000 after purchasing an additional 68,504 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Summit Materials by 68.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 893,800 shares of the construction company’s stock worth $25,804,000 after purchasing an additional 362,500 shares in the last quarter. First Trust Advisors LP raised its stake in Summit Materials by 55.3% in the 1st quarter. First Trust Advisors LP now owns 47,551 shares of the construction company’s stock worth $1,175,000 after purchasing an additional 16,926 shares in the last quarter. Finally, Levin Capital Strategies L.P. raised its stake in Summit Materials by 22.6% in the 1st quarter. Levin Capital Strategies L.P. now owns 3,521,385 shares of the construction company’s stock worth $87,013,000 after purchasing an additional 649,603 shares in the last quarter.

A number of research analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Summit Materials from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. BidaskClub lowered shares of Summit Materials from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Summit Materials from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Finally, Longbow Research assumed coverage on shares of Summit Materials in a research report on Thursday, June 8th. They set a “buy” rating and a $34.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Summit Materials presently has an average rating of “Buy” and an average price target of $30.43.

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.

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

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