Summit Materials Inc (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $30.25, for a total transaction of $378,125.00. Following the sale, the insider now owns 189,310 shares of the company’s stock, valued at approximately $5,726,627.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Summit Materials Inc (NYSE:SUM) opened at $31.85 on Friday. Summit Materials Inc has a 1 year low of $21.88 and a 1 year high of $32.59. The stock has a market cap of $3,503.18, a price-to-earnings ratio of 35.10, a PEG ratio of 2.02 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 results on Monday, October 30th. The construction company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The company had revenue of $634.18 million during the quarter, compared to analysts’ expectations of $558.93 million. During the same period last year, the firm earned $0.73 earnings per share. Summit Materials’s revenue was up 19.8% on a year-over-year basis. research analysts anticipate that Summit Materials Inc will post 0.98 earnings per share for the current year.
SUM has been the subject of several research reports. Barclays initiated coverage on shares of Summit Materials in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $32.00 target price for the company. Canaccord Genuity reiterated a “buy” rating and issued a $12.50 target price on shares of Summit Materials in a report on Wednesday, November 8th. Zacks Investment Research cut shares of Summit Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Bank of America raised their price target on shares of 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 shares of Summit Materials and gave the company a “buy” rating in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $31.50.
A number of hedge funds and other institutional investors have recently bought and sold shares of SUM. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Summit Materials by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock worth $145,000 after buying an additional 510 shares in the last quarter. First Manhattan Co. purchased a new stake in Summit Materials during the third quarter worth about $160,000. Cubist Systematic Strategies LLC purchased a new stake in Summit Materials during the third quarter worth about $180,000. Daiwa Securities Group Inc. purchased a new stake in Summit Materials during the third quarter worth about $202,000. Finally, Venturi Wealth Management LLC boosted its holdings in Summit Materials by 4.4% during the second quarter. Venturi Wealth Management LLC now owns 8,541 shares of the construction company’s stock worth $247,000 after buying an additional 360 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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