Summit Materials, Inc. (NYSE:SUM) insider Douglas Charles Rauh sold 26,324 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $31.36, for a total value of $825,520.64. Following the completion of the sale, the insider now directly owns 18,724 shares of the company’s stock, valued at approximately $587,184.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Douglas Charles Rauh also recently made the following trade(s):

  • On Friday, September 1st, Douglas Charles Rauh sold 14,574 shares of Summit Materials stock. The stock was sold at an average price of $30.00, for a total value of $437,220.00.
  • On Thursday, August 10th, Douglas Charles Rauh sold 100,000 shares of Summit Materials stock. The stock was sold at an average price of $28.69, for a total value of $2,869,000.00.

Shares of Summit Materials, Inc. (NYSE SUM) traded down $0.74 on Friday, reaching $30.66. The company had a trading volume of 1,693,785 shares, compared to its average volume of 1,457,725. The stock has a market capitalization of $3,296.09, a PE ratio of 33.33 and a beta of 2.04.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). The business had revenue of $634.18 million during the quarter, compared to analysts’ expectations of $558.93 million. Summit Materials had a net margin of 4.09% and a return on equity of 10.35%. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 EPS. equities research analysts anticipate that Summit Materials, Inc. will post 1.04 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Douglas Charles Rauh Sells 26,324 Shares of Summit Materials, Inc. (SUM) Stock” was first reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/11/03/douglas-charles-rauh-sells-26324-shares-of-summit-materials-inc-sum-stock.html.

Several brokerages have recently weighed in on SUM. Zacks Investment Research downgraded Summit Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. SunTrust Banks, Inc. set a $38.00 target price on Summit Materials and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Bank of America Corporation upped their target price on Summit Materials from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Summit Materials in a research report on Thursday. Finally, BidaskClub raised Summit Materials from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.83.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its holdings in Summit Materials by 0.8% in the second quarter. Teacher Retirement System of Texas now owns 8,539 shares of the construction company’s stock valued at $247,000 after purchasing an additional 64 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Summit Materials by 4.4% in the second quarter. Venturi Wealth Management LLC now owns 8,541 shares of the construction company’s stock valued at $247,000 after purchasing an additional 360 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Summit Materials by 4.9% in the second quarter. Ameritas Investment Partners Inc. now owns 9,400 shares of the construction company’s stock valued at $271,000 after purchasing an additional 443 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Summit Materials by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock valued at $145,000 after purchasing an additional 510 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in Summit Materials by 5.5% in the second quarter. Amalgamated Bank now owns 12,940 shares of the construction company’s stock valued at $374,000 after purchasing an additional 672 shares during the last quarter.

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)

Receive News & Ratings for Summit Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.