NGAM Advisors L.P. bought a new stake in shares of Summit Materials, Inc. (NYSE:SUM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 104,188 shares of the construction company’s stock, valued at approximately $3,008,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Summit Materials by 67.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,503 shares of the construction company’s stock valued at $111,000 after buying an additional 1,819 shares during the period. SG Americas Securities LLC increased its position in Summit Materials by 27.8% in the first quarter. SG Americas Securities LLC now owns 7,300 shares of the construction company’s stock valued at $180,000 after buying an additional 1,589 shares during the period. Strs Ohio purchased a new position in Summit Materials during the first quarter valued at $192,000. Teacher Retirement System of Texas purchased a new position in Summit Materials during the first quarter valued at $209,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Summit Materials during the first quarter valued at $221,000.

Summit Materials, Inc. (NYSE SUM) opened at 28.60 on Friday. The company’s 50-day moving average price is $28.75 and its 200-day moving average price is $26.35. Summit Materials, Inc. has a 12 month low of $17.48 and a 12 month high of $29.72. The stock has a market cap of $3.07 billion, a P/E ratio of 63.56 and a beta of 2.06.

Summit Materials (NYSE:SUM) last released its quarterly earnings results 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. The firm 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 was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. Equities analysts forecast that Summit Materials, Inc. will post $1.23 earnings per share for the current year.

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Several equities analysts have recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $35.00 target price (up previously from $33.00) on shares of Summit Materials in a research report on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $35.00 target price on shares of Summit Materials in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Summit Materials from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 5th. BidaskClub upgraded Summit Materials from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, TheStreet upgraded Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.43.

In related news, insider Thomas W. Hill sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $29.30, for a total value of $7,325,000.00. Following the sale, the insider now owns 70,610 shares of the company’s stock, valued at approximately $2,068,873. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $26.94, for a total value of $336,750.00. Following the completion of the sale, the insider now directly owns 20,610 shares in the company, valued at approximately $555,233.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 386,447 shares of company stock worth $11,165,775. Insiders own 1.97% of the company’s stock.

Summit Materials Company 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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