Trade Report: Today, 7,300 Shares of Summit Materials Inc. (SUM) Stock are sold by Thomas W. Hill

Today, 7,300 Shares of Summit Materials Inc. (SUM) Stock are sold by Thomas W. Hill

Summit Materials Inc. (NYSE:SUM) CEO Thomas W. Hill sold 7,300 shares of the company’s stock in a transaction that occurred 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 directly owns 10,150 shares of the company’s stock, valued at $241,367. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Summit Materials Inc. (NYSE:SUM) opened at 24.43 on Friday. The stock’s 50 day moving average price is $20.58 and its 200 day moving average price is $20.48. Summit Materials Inc. has a 1-year low of $13.12 and a 1-year high of $24.81. The stock 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 announced its earnings results on Wednesday, November 2nd. The company reported $0.73 EPS for the quarter, meeting the consensus estimate of $0.73. The business 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 company’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. On average, equities research analysts anticipate that Summit Materials Inc. will post $1.12 EPS for the current fiscal year.

A number of equities analysts recently issued reports on the company. Citigroup Inc. upped their price target on Summit Materials from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Royal Bank Of Canada upped their price target on Summit Materials from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. RBC Capital Markets reaffirmed an “outperform” rating and issued a $26.00 price target (up from $24.00) on shares of Summit Materials in a report on Thursday, November 3rd. DA Davidson reaffirmed a “buy” rating and issued a $27.00 price target on shares of Summit Materials in a report on Thursday, November 17th. Finally, Bank of America Corp. downgraded Summit Materials from a “buy” rating to a “neutral” rating in a report on Wednesday, November 16th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $24.13.

Several large investors have recently made changes to their positions in the stock. Prudential Financial Inc. bought a new stake in shares of Summit Materials during the first quarter valued at approximately $554,000. BlackRock Group LTD increased its stake in shares of Summit Materials by 92.5% in the first quarter. BlackRock Group LTD now owns 54,489 shares of the company’s stock valued at $1,059,000 after buying an additional 26,181 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Summit Materials by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,177,843 shares of the company’s stock valued at $22,909,000 after buying an additional 14,798 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Summit Materials by 6.4% in the first quarter. Wellington Management Group LLP now owns 960,987 shares of the company’s stock valued at $18,691,000 after buying an additional 57,992 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in shares of Summit Materials during the first quarter valued at approximately $916,000. Institutional investors and hedge funds own 91.75% of the company’s stock.

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