Summit Materials, Inc. (SUM) Insider Thomas A. Beck Sells 18,354 Shares
Summit Materials, Inc. (NYSE:SUM) insider Thomas A. Beck sold 18,354 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $29.31, for a total transaction of $537,955.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Summit Materials, Inc. (NYSE:SUM) traded down 0.07% during mid-day trading on Tuesday, hitting $30.16. 590,393 shares of the company were exchanged. The company’s 50-day moving average is $29.78 and its 200 day moving average is $29.03. The company has a market capitalization of $3.24 billion, a P/E ratio of 67.02 and a beta of 2.05. Summit Materials, Inc. has a 12-month low of $17.99 and a 12-month high of $30.64.
Summit Materials (NYSE:SUM) last issued 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). The business had revenue of $478.37 million for the quarter, compared to analyst estimates of $469.91 million. Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. Summit Materials’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. Analysts expect that Summit Materials, Inc. will post $1.19 EPS for the current year.
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Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Summit Materials by 67.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,503 shares of the construction company’s stock worth $111,000 after buying an additional 1,819 shares during the last quarter. SG Americas Securities LLC raised its stake in Summit Materials by 27.8% during the first quarter. SG Americas Securities LLC now owns 7,300 shares of the construction company’s stock worth $180,000 after buying an additional 1,589 shares during the last quarter. Strs Ohio bought a new position in Summit Materials during the first quarter worth $192,000. Teacher Retirement System of Texas bought a new position in Summit Materials during the first quarter worth $209,000. Finally, ARP Americas LLC bought a new position in Summit Materials during the second quarter worth $211,000.
Several analysts have commented on SUM shares. BidaskClub upgraded shares of Summit Materials from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research cut shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Longbow Research started coverage on shares of Summit Materials in a research report on Thursday, June 8th. They set a “buy” rating and a $34.00 target price for the company. Royal Bank of Canada reiterated a “buy” rating and set a $33.00 target price on shares of Summit Materials in a research report on Monday, June 19th. Finally, TheStreet upgraded shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company currently 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.
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