Summit Materials Inc (NYSE:SUM) CEO Thomas W. Hill sold 447,959 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $31.02, for a total value of $13,895,688.18. Following the transaction, the chief executive officer now owns 146,245 shares in the company, valued at approximately $4,536,519.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
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 stock was 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 stock was sold at an average price of $31.53, for a total value of $394,125.00.
Shares of Summit Materials Inc (SUM) traded up $0.80 during trading hours on Friday, reaching $31.11. The company had a trading volume of 1,967,760 shares, compared to its average volume of 1,176,085. The firm has a market capitalization of $3,345.16, a P/E ratio of 29.61, a P/E/G ratio of 1.92 and a beta of 1.72. Summit Materials Inc has a 1-year low of $22.19 and a 1-year high of $34.06. The company has a quick ratio of 2.40, a current ratio of 3.13 and a debt-to-equity ratio of 1.42.
Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.24. The business had revenue of $490.02 million for the quarter, compared to the consensus estimate of $449.45 million. Summit Materials had a return on equity of 11.51% and a net margin of 6.19%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share. sell-side analysts predict that Summit Materials Inc will post 1.51 EPS for the current fiscal year.
A number of brokerages have recently weighed in on SUM. Zacks Investment Research lowered Summit Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. TheStreet lowered Summit Materials from a “b” rating to a “c” rating in a research note on Thursday, February 8th. Deutsche Bank increased their target price on Summit Materials from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Royal Bank of Canada set a $37.00 price target on Summit Materials and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, Goldman Sachs raised Summit Materials from a “neutral” rating to a “buy” rating in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.28.
A number of large investors have recently modified their holdings of SUM. Bank of Montreal Can boosted its holdings in shares of 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Summit Materials in the 3rd quarter valued at $180,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of 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 in the last quarter. Global X Management Co. LLC boosted its holdings in shares of 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 in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Summit Materials in the 3rd quarter valued at $268,000.
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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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