Summit Materials, Inc. (NYSE:SUM) EVP Damian John Murphy sold 115,118 shares of Summit Materials stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $31.75, for a total value of $3,654,996.50. Following the sale, the executive vice president now owns 66,440 shares in the company, valued at approximately $2,109,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Summit Materials, Inc. (SUM) traded down $0.09 during mid-day trading on Wednesday, reaching $31.10. The company had a trading volume of 1,062,012 shares, compared to its average volume of 1,452,275. The firm has a market cap of $3,430.00 and a PE ratio of 34.73. Summit Materials, Inc. has a 1 year low of $22.19 and a 1 year high of $32.69. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.59 and a quick ratio of 2.01.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.10). The company had revenue of $634.18 million during the quarter, compared to analyst estimates of $558.93 million. Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The business’s revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. equities research analysts predict that Summit Materials, Inc. will post 1.01 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of SUM. First Manhattan Co. purchased a new stake in Summit Materials in the 3rd quarter valued at approximately $160,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Summit Materials by 11.3% in the 2nd 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Summit Materials in the 3rd quarter valued at approximately $180,000. Daiwa Securities Group Inc. purchased a new stake in Summit Materials in the 3rd quarter valued at approximately $202,000. Finally, Engineers Gate Manager LP purchased a new stake in Summit Materials in the 3rd quarter valued at approximately $268,000.

A number of analysts have recently commented on the company. Barclays assumed coverage on Summit Materials in a research report on Tuesday. They set an “equal weight” rating and a $32.00 target price on the stock. Canaccord Genuity restated a “buy” rating and issued a $12.50 price target on shares of Summit Materials in a research report on Wednesday, November 8th. Royal Bank of Canada restated a “buy” rating on shares of Summit Materials in a research report on Thursday, November 2nd. Bank of America boosted their price target on Summit Materials from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Finally, SunTrust Banks set a $38.00 price target on Summit Materials and gave the company a “buy” rating in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $31.50.

ILLEGAL ACTIVITY NOTICE: This piece of content was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/13/summit-materials-inc-sum-evp-damian-john-murphy-sells-115118-shares.html.

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.

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

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