Summit Materials, Inc. (NYSE:SUM) insider Thomas W. Hill sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $29.30, for a total value of $7,325,000.00. Following the completion of the transaction, the insider now directly owns 70,610 shares of the company’s stock, valued at $2,068,873. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Summit Materials, Inc. (NYSE SUM) opened at 29.33 on Thursday. Summit Materials, Inc. has a 52-week low of $17.27 and a 52-week high of $29.72. The stock has a market capitalization of $3.15 billion, a PE ratio of 49.97 and a beta of 2.06. The stock has a 50 day moving average price of $28.72 and a 200-day moving average price of $26.33.

Summit Materials (NYSE:SUM) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.09. Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The company had revenue of $478.37 million for the quarter, compared to analyst estimates of $469.91 million. During the same period in the previous year, the business posted $0.46 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts anticipate that Summit Materials, Inc. will post $1.23 EPS for the current fiscal year.

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SUM has been the subject of a number of analyst reports. Zacks Investment Research raised Summit Materials from a “sell” rating to a “buy” rating and set a $31.00 price target for the company in a report on Tuesday, May 9th. BidaskClub raised Summit Materials from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. TheStreet downgraded Summit Materials from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Longbow Research initiated coverage on Summit Materials in a report on Thursday, June 8th. They issued a “buy” rating and a $34.00 price target for the company. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $33.00 price target on shares of Summit Materials in a report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Summit Materials presently has a consensus rating of “Buy” and a consensus price target of $30.43.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Summit Materials by 19.9% in the first quarter. Vanguard Group Inc. now owns 8,453,364 shares of the construction company’s stock valued at $208,882,000 after buying an additional 1,402,233 shares in the last quarter. BlackRock Inc. boosted its stake in Summit Materials by 57,208.1% in the first quarter. BlackRock Inc. now owns 7,522,836 shares of the construction company’s stock valued at $185,890,000 after buying an additional 7,509,709 shares in the last quarter. Janus Capital Management LLC boosted its stake in Summit Materials by 11.3% in the first quarter. Janus Capital Management LLC now owns 4,076,189 shares of the construction company’s stock valued at $100,723,000 after buying an additional 412,239 shares in the last quarter. Levin Capital Strategies L.P. boosted its stake in Summit Materials by 22.6% in the first quarter. Levin Capital Strategies L.P. now owns 3,521,385 shares of the construction company’s stock valued at $87,013,000 after buying an additional 649,603 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in Summit Materials by 70.9% in the first quarter. TimesSquare Capital Management LLC now owns 2,993,886 shares of the construction company’s stock valued at $73,979,000 after buying an additional 1,242,505 shares in the last quarter.

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.

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

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