Summit Materials, Inc. (NYSE:SUM) EVP Damian John Murphy sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $30.66, for a total value of $3,066,000.00. Following the sale, the executive vice president now directly owns 104,398 shares in the company, valued at approximately $3,200,842.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Summit Materials, Inc. (NYSE SUM) traded up 0.87% on Tuesday, hitting $30.18. The company’s stock had a trading volume of 2,431,475 shares. The company has a market capitalization of $3.24 billion, a P/E ratio of 67.07 and a beta of 2.05. Summit Materials, Inc. has a 1-year low of $17.48 and a 1-year high of $30.45. The company has a 50 day moving average price of $29.92 and a 200-day moving average price of $25.09.

Summit Materials (NYSE:SUM) last announced its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.09). Summit Materials had a net margin of 2.46% and a return on equity of 9.90%. The business had revenue of $478.37 million during the quarter, compared to analyst estimates of $469.91 million. During the same quarter in the prior year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts forecast that Summit Materials, Inc. will post $1.22 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in SUM. BlackRock Inc. lifted its holdings 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 during the period. Janus Henderson Group PLC acquired a new position in Summit Materials in the second quarter valued at approximately $121,836,000. FMR LLC lifted its holdings in Summit Materials by 616.9% in the second quarter. FMR LLC now owns 3,014,261 shares of the construction company’s stock valued at $87,021,000 after buying an additional 2,593,803 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Summit Materials by 110.7% in the second quarter. Westfield Capital Management Co. LP now owns 2,989,486 shares of the construction company’s stock valued at $86,306,000 after buying an additional 1,570,803 shares during the period. Finally, Vanguard Group Inc. lifted its holdings 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 during the period.

SUM has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $35.00 target price on shares of Summit Materials in a report on Thursday, August 3rd. BidaskClub raised Summit Materials from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Zacks Investment Research raised Summit Materials from a “strong sell” rating to a “hold” rating in a report on Saturday, August 5th. 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 on the stock. Finally, TheStreet raised Summit Materials from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $30.43.

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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