Insider Selling: Summit Materials Inc (SUM) Insider Sells 12,500 Shares of Stock

Summit Materials Inc (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction on Friday, February 9th. The shares were sold at an average price of $28.85, for a total value of $360,625.00. Following the sale, the insider now directly owns 160,548 shares of the company’s stock, valued at approximately $4,631,809.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Thomas W. Hill also recently made the following trade(s):

  • On Monday, January 22nd, Thomas W. Hill sold 6,300 shares of Summit Materials stock. The shares were sold at an average price of $31.04, for a total value of $195,552.00.
  • On Tuesday, January 23rd, Thomas W. Hill sold 12,500 shares of Summit Materials stock. The shares were sold at an average price of $31.53, for a total value of $394,125.00.

Summit Materials Inc (NYSE SUM) traded up $0.30 on Monday, reaching $29.15. The company had a trading volume of 1,392,354 shares, compared to its average volume of 1,052,157. The firm has a market capitalization of $3,173.20, a PE ratio of 43.51, a price-to-earnings-growth ratio of 1.84 and a beta of 1.81. Summit Materials Inc has a 52-week low of $22.19 and a 52-week high of $34.06. The company has a current ratio of 2.59, a quick ratio of 2.01 and a debt-to-equity ratio of 1.48.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in Summit Materials by 310.5% during the fourth quarter. Bank of Montreal Can now owns 3,325 shares of the construction company’s stock valued at $104,000 after buying an additional 2,515 shares in the last quarter. First Manhattan Co. bought a new position in Summit Materials during the third quarter valued at about $160,000. Cubist Systematic Strategies LLC bought a new position in Summit Materials during the third quarter valued at about $180,000. Daiwa Securities Group Inc. bought a new position in Summit Materials during the third quarter valued at about $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Summit Materials by 39.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,998 shares of the construction company’s stock valued at $220,000 after buying an additional 1,985 shares in the last quarter.

A number of analysts recently issued reports on SUM shares. Canaccord Genuity reissued a “buy” rating and set a $12.50 price objective on shares of Summit Materials in a research report on Wednesday, November 8th. Royal Bank of Canada reissued a “buy” rating on shares of Summit Materials in a research report on Thursday, November 2nd. SunTrust Banks set a $38.00 price objective on Summit Materials and gave the company a “buy” rating in a research report on Tuesday, October 24th. Citigroup lifted their price objective on Summit Materials from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, TheStreet cut Summit Materials from a “b” rating to a “c” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $32.44.

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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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