Summit Materials Inc. (NYSE:SUM) CEO Thomas W. Hill sold 7,300 shares of Summit Materials stock in a transaction on Monday, November 21st. The shares were sold at an average price of $23.78, for a total value of $173,594.00. Following the completion of the transaction, the chief executive officer now owns 10,150 shares in the company, valued at approximately $241,367. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Summit Materials Inc. (NYSE:SUM) traded up 2.52% during midday trading on Wednesday, hitting $24.43. The company’s stock had a trading volume of 1,290,646 shares. Summit Materials Inc. has a 52-week low of $13.12 and a 52-week high of $24.81. The stock has a 50 day moving average of $20.58 and a 200 day moving average of $20.48. The company has a market cap of $1.85 billion, a PE ratio of 39.09 and a beta of 2.00.

Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, November 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. The firm had revenue of $529.40 million for the quarter, compared to the consensus estimate of $483.19 million. Summit Materials had a return on equity of 17.05% and a net margin of 3.99%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share. On average, equities analysts expect that Summit Materials Inc. will post $1.12 EPS for the current year.

Insider Buying and Selling by Quarter for Summit Materials (NYSE:SUM)

Several large investors have recently modified their holdings of the company. BlackRock Japan Co. Ltd increased its stake in shares of Summit Materials by 34.2% in the second quarter. BlackRock Japan Co. Ltd now owns 5,179 shares of the company’s stock worth $106,000 after buying an additional 1,321 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Summit Materials by 154.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,299 shares of the company’s stock worth $117,000 after buying an additional 3,827 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of Summit Materials during the second quarter worth about $133,000. Teacher Retirement System of Texas increased its stake in shares of Summit Materials by 37.9% in the second quarter. Teacher Retirement System of Texas now owns 8,410 shares of the company’s stock worth $172,000 after buying an additional 2,310 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Summit Materials by 66.1% in the third quarter. Great West Life Assurance Co. Can now owns 8,695 shares of the company’s stock worth $161,000 after buying an additional 3,461 shares during the period. Institutional investors own 91.75% of the company’s stock.

SUM has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price target on Summit Materials from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 3rd. DA Davidson restated a “buy” rating and set a $27.00 price objective on shares of Summit Materials in a research report on Sunday, October 9th. Zacks Investment Research lowered Summit Materials from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Goldman Sachs Group Inc. lowered Summit Materials from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $21.00 in a research report on Tuesday, October 11th. Finally, Citigroup Inc. boosted their price objective on Summit Materials from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $24.13.

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Summit Materials Company Profile

Summit Materials, Inc is a construction materials company. The Company operates through three segments: the west segment, which includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming, and in British Columbia, Canada; east segment, which serves markets across the Midwestern and Eastern United States, and Cement segment, which consists of its Hannibal, Missouri and Davenport, Iowa cement plants and approximately eight distribution terminals along the Mississippi River from Minnesota to Louisiana.

5 Day Chart for NYSE:SUM

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