Summit Materials, Inc. (SUM) Insider Thomas A. Beck Sells 17,899 Shares
Summit Materials, Inc. (NYSE:SUM) insider Thomas A. Beck sold 17,899 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $30.24, for a total transaction of $541,265.76. Following the completion of the sale, the insider now directly owns 7,498 shares of the company’s stock, valued at $226,739.52. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Summit Materials, Inc. (NYSE:SUM) traded up 1.09% on Friday, hitting $30.62. 1,072,224 shares of the stock were exchanged. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 68.04 and a beta of 2.05. The company has a 50-day moving average of $28.71 and a 200-day moving average of $26.87. Summit Materials, Inc. has a 12 month low of $17.27 and a 12 month high of $30.90.
Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.09. Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The company had revenue of $478.37 million during the quarter, compared to the consensus estimate of $469.91 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. On average, equities analysts predict that Summit Materials, Inc. will post $1.22 EPS for the current year.
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Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Summit Materials by 0.8% in the second quarter. Vanguard Group Inc. now owns 8,524,048 shares of the construction company’s stock worth $246,089,000 after acquiring an additional 70,684 shares during the period. BlackRock Inc. grew its stake in shares of Summit Materials by 57,208.1% in the first quarter. BlackRock Inc. now owns 7,522,836 shares of the construction company’s stock worth $185,890,000 after acquiring an additional 7,509,709 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Summit Materials in the second quarter worth approximately $121,836,000. Janus Capital Management LLC grew its stake in shares of Summit Materials by 11.3% in the first quarter. Janus Capital Management LLC now owns 4,076,189 shares of the construction company’s stock worth $100,723,000 after acquiring an additional 412,239 shares during the period. Finally, Levin Capital Strategies L.P. grew its stake in shares of Summit Materials by 22.6% in the first quarter. Levin Capital Strategies L.P. now owns 3,521,385 shares of the construction company’s stock worth $87,013,000 after acquiring an additional 649,603 shares during the period.
A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective (up from $33.00) on shares of Summit Materials in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Summit Materials from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Summit Materials in a research report on Thursday, August 3rd. Finally, TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Summit Materials currently has a consensus rating of “Buy” and a consensus price target of $30.43.
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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