Anne Lee Benedict Sells 21,147 Shares of Summit Materials, Inc. (SUM) Stock
Summit Materials, Inc. (NYSE:SUM) insider Anne Lee Benedict sold 21,147 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $29.27, for a total value of $618,972.69. Following the completion of the sale, the insider now directly owns 20,448 shares of the company’s stock, valued at $598,512.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Anne Lee Benedict also recently made the following trade(s):
- On Wednesday, June 14th, Anne Lee Benedict sold 7,500 shares of Summit Materials stock. The shares were sold at an average price of $28.48, for a total value of $213,600.00.
Shares of Summit Materials, Inc. (SUM) traded up 0.03% during midday trading on Tuesday, hitting $29.51. The company had a trading volume of 973,477 shares. Summit Materials, Inc. has a 12 month low of $17.48 and a 12 month high of $29.72. The company has a 50-day moving average of $28.60 and a 200-day moving average of $26.18. The company has a market capitalization of $3.17 billion, a PE ratio of 50.27 and a beta of 2.06.
Summit Materials (NYSE:SUM) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.09. Summit Materials had a net margin of 2.46% and a return on equity of 10.43%. 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 posted $0.46 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. Analysts predict that Summit Materials, Inc. will post $1.23 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “Anne Lee Benedict Sells 21,147 Shares of Summit Materials, Inc. (SUM) Stock” was first reported by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/08/anne-lee-benedict-sells-21147-shares-of-summit-materials-inc-sum-stock.html.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position 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 worth $185,890,000 after buying an additional 7,509,709 shares in the last quarter. Vanguard Group Inc. boosted its position 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 worth $208,882,000 after buying an additional 1,402,233 shares in the last quarter. TimesSquare Capital Management LLC boosted its position 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 worth $73,979,000 after buying an additional 1,242,505 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Summit Materials during the second quarter worth approximately $34,909,000. Finally, Epoch Investment Partners Inc. acquired a new position in Summit Materials during the first quarter worth approximately $26,076,000.
SUM has been the subject of several analyst reports. TheStreet raised Summit Materials from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Summit Materials in a research note on Thursday, August 3rd. BidaskClub raised Summit Materials from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Summit Materials in a research note on Monday, June 19th. Finally, Longbow Research initiated coverage on Summit Materials in a research note on Thursday, June 8th. They issued a “buy” rating and a $34.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Summit Materials currently has a consensus rating of “Buy” and an average 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.
Receive News & Ratings for Summit Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.