Three Peaks Capital Management LLC increased its holdings in Summit Materials Inc (NYSE:SUM) by 64.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,041 shares of the construction company’s stock after acquiring an additional 132,932 shares during the period. Summit Materials comprises 1.6% of Three Peaks Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Three Peaks Capital Management LLC owned 0.31% of Summit Materials worth $10,691,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. American International Group Inc. grew its position in Summit Materials by 8.1% in the 3rd quarter. American International Group Inc. now owns 71,796 shares of the construction company’s stock worth $2,300,000 after purchasing an additional 5,368 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Summit Materials by 23.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,344,808 shares of the construction company’s stock valued at $96,565,000 after acquiring an additional 645,543 shares during the period. Legal & General Group Plc grew its position in shares of Summit Materials by 6.0% during the 3rd quarter. Legal & General Group Plc now owns 90,409 shares of the construction company’s stock valued at $2,895,000 after acquiring an additional 5,096 shares during the period. Castleark Management LLC bought a new position in shares of Summit Materials during the 2nd quarter valued at approximately $10,958,000. Finally, Janus Henderson Group PLC bought a new position in shares of Summit Materials during the 2nd quarter valued at approximately $121,836,000.
Summit Materials Inc (NYSE SUM) traded up $2.16 during midday trading on Wednesday, reaching $30.95. 4,013,664 shares of the company’s stock traded hands, compared to its average volume of 1,180,616. The company has a quick ratio of 2.01, a current ratio of 2.59 and a debt-to-equity ratio of 1.48. The stock has a market cap of $3,206.20, a PE ratio of 46.58, a PEG ratio of 1.90 and a beta of 1.81. Summit Materials Inc has a fifty-two week low of $22.19 and a fifty-two week high of $34.06.
Summit Materials (NYSE:SUM) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.19. The firm had revenue of $490.02 million for the quarter, compared to analysts’ expectations of $449.45 million. Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS. analysts forecast that Summit Materials Inc will post 0.92 EPS for the current fiscal year.
In related news, EVP Damian John Murphy sold 115,118 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $31.75, for a total transaction of $3,654,996.50. Following the transaction, the executive vice president now owns 66,440 shares of the company’s stock, valued at approximately $2,109,470. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas W. Hill sold 6,300 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $31.04, for a total transaction of $195,552.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,418 shares of company stock worth $6,131,924. Corporate insiders own 1.97% of the company’s stock.
A number of research firms have recently weighed in on SUM. Barclays began coverage on shares of Summit Materials in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $32.00 target price for the company. Canaccord Genuity reissued a “buy” rating and set a $12.50 target price on shares of Summit Materials in a research report on Wednesday, November 8th. Zacks Investment Research cut shares of Summit Materials from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet cut shares of Summit Materials from a “b” rating to a “c” rating in a research note on Thursday, February 8th. Finally, Bank of America upped their price target on shares of Summit Materials from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus 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.
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