Summit Materials Inc (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $31.24, for a total transaction of $390,500.00. Following the sale, the insider now owns 176,810 shares in the company, valued at $5,523,544.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Summit Materials Inc (NYSE:SUM) traded up $0.20 during trading on Friday, hitting $31.85. The stock had a trading volume of 661,389 shares, compared to its average volume of 1,020,728. Summit Materials Inc has a 1-year low of $21.88 and a 1-year high of $32.59. The firm has a market capitalization of $3,481.17, a P/E ratio of 34.88, a PEG ratio of 2.01 and a beta of 1.97. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.01 and a current ratio of 2.59.
Summit Materials (NYSE:SUM) last announced its quarterly earnings data on Monday, October 30th. The construction company reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.10). Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. The company had revenue of $634.18 million for the quarter, compared to analyst estimates of $558.93 million. During the same period in the prior year, the firm posted $0.73 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. analysts forecast that Summit Materials Inc will post 0.98 EPS for the current year.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Summit Materials from a “strong sell” rating to a “hold” rating in a research note on Friday, January 5th. SunTrust Banks set a $38.00 price objective on Summit Materials and gave the stock a “buy” rating in a research report on Tuesday, October 24th. 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. Bank of America boosted their price objective on Summit Materials from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Summit Materials in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Summit Materials has an average rating of “Buy” and a consensus target price of $31.50.
Institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its holdings in Summit Materials by 9.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 485,311 shares of the construction company’s stock valued at $14,011,000 after purchasing an additional 42,275 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Summit Materials by 46.4% in the second quarter. SG Americas Securities LLC now owns 10,684 shares of the construction company’s stock valued at $308,000 after purchasing an additional 3,384 shares in the last quarter. Legal & General Group Plc boosted its holdings in Summit Materials by 10.5% in the second quarter. Legal & General Group Plc now owns 85,313 shares of the construction company’s stock valued at $2,456,000 after purchasing an additional 8,086 shares in the last quarter. Comerica Bank acquired a new position in Summit Materials in the second quarter valued at approximately $296,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Summit Materials by 583.2% in the second quarter. BNP Paribas Arbitrage SA now owns 14,695 shares of the construction company’s stock valued at $424,000 after purchasing an additional 12,544 shares in the last quarter.
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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.
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