Quantitative Investment Management LLC decreased its stake in Summit Materials Inc (NYSE:SUM) by 45.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,000 shares of the construction company’s stock after selling 186,200 shares during the period. Quantitative Investment Management LLC owned about 0.20% of Summit Materials worth $6,948,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Bank of Montreal Can lifted its stake in Summit Materials by 310.5% in the 4th quarter. Bank of Montreal Can now owns 3,325 shares of the construction company’s stock valued at $104,000 after purchasing an additional 2,515 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Summit Materials in the 3rd quarter valued at approximately $180,000. Daiwa Securities Group Inc. bought a new position in Summit Materials in the 3rd quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Summit Materials by 39.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,998 shares of the construction company’s stock valued at $220,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Global X Management Co. LLC lifted its stake in Summit Materials by 77.6% in the 4th quarter. Global X Management Co. LLC now owns 7,585 shares of the construction company’s stock valued at $238,000 after purchasing an additional 3,315 shares during the last quarter.
In related news, insider Anne Lee Benedict sold 26,167 shares of Summit Materials stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.32, for a total transaction of $845,717.44. Following the completion of the transaction, the insider now owns 27,258 shares of the company’s stock, valued at $880,978.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction on Friday, February 9th. The stock was sold at an average price of $28.85, for a total transaction of $360,625.00. Following the transaction, the insider now directly owns 160,548 shares of the company’s stock, valued at approximately $4,631,809.80. The disclosure for this sale can be found here. Insiders have sold 141,424 shares of company stock valued at $4,463,913 in the last three months. 1.97% of the stock is owned by insiders.
Summit Materials Inc (NYSE SUM) opened at $32.13 on Monday. The stock has a market cap of $3,546.03, a price-to-earnings ratio of 27.69, a PEG ratio of 2.07 and a beta of 1.72. Summit Materials Inc has a 52 week low of $22.19 and a 52 week high of $34.06. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.40 and a current ratio of 3.13.
Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.24. The firm had revenue of $490.02 million during the quarter, compared to the consensus estimate of $449.45 million. Summit Materials had a net margin of 6.19% and a return on equity of 11.51%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share. sell-side analysts forecast that Summit Materials Inc will post 1.48 EPS for the current fiscal year.
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Summit Materials 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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