Argent Capital Management LLC reduced its position in Summit Materials, Inc. (NYSE:SUM) by 6.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,095 shares of the construction company’s stock after selling 11,250 shares during the period. Argent Capital Management LLC owned approximately 0.14% of Summit Materials worth $4,391,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in Summit Materials by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 325,245 shares of the construction company’s stock valued at $9,390,000 after buying an additional 8,490 shares during the last quarter. BP Capital Fund Advisors LLC purchased a new position in Summit Materials in the 1st quarter valued at about $3,181,000. First Trust Advisors LP boosted its position in Summit Materials by 210.8% in the 2nd quarter. First Trust Advisors LP now owns 147,795 shares of the construction company’s stock valued at $4,267,000 after buying an additional 100,244 shares during the last quarter. Steadfast Capital Management LP boosted its position in Summit Materials by 4.3% in the 1st quarter. Steadfast Capital Management LP now owns 1,654,509 shares of the construction company’s stock valued at $40,883,000 after buying an additional 68,504 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Summit Materials by 68.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 893,800 shares of the construction company’s stock valued at $25,804,000 after buying an additional 362,500 shares during the last quarter.

In other news, CEO Thomas W. Hill sold 6,300 shares of Summit Materials stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $28.74, for a total transaction of $181,062.00. Following the sale, the chief executive officer now directly owns 20,610 shares in the company, valued at approximately $592,331.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $28.75, for a total transaction of $359,375.00. Following the sale, the insider now owns 20,610 shares in the company, valued at $592,537.50. The disclosure for this sale can be found here. Insiders sold a total of 622,733 shares of company stock worth $18,406,421 over the last 90 days. Company insiders own 1.97% of the company’s stock.

Shares of Summit Materials, Inc. (NYSE:SUM) traded down 4.17% during trading on Friday, hitting $31.29. 3,328,775 shares of the stock traded hands. The company has a market cap of $3.36 billion, a PE ratio of 69.53 and a beta of 2.08. Summit Materials, Inc. has a one year low of $18.05 and a one year high of $32.69. The firm has a 50 day moving average price of $31.12 and a 200-day moving average price of $31.12.

Summit Materials (NYSE:SUM) last posted its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.09). The company had revenue of $478.37 million during the quarter, compared to analyst estimates of $469.91 million. Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Analysts anticipate that Summit Materials, Inc. will post $1.19 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on SUM shares. BidaskClub raised shares of Summit Materials from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada reissued a “buy” rating and issued a $33.00 price objective on shares of Summit Materials in a research report on Monday, June 19th. Zacks Investment Research cut shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating and issued a $35.00 price objective on shares of Summit Materials in a research report on Thursday, August 3rd. Finally, TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.33.

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Summit Materials 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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Institutional Ownership by Quarter for Summit Materials (NYSE:SUM)

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