Fmr LLC raised its holdings in Summit Materials, Inc. (NYSE:SUM) by 616.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,014,261 shares of the construction company’s stock after buying an additional 2,593,803 shares during the period. Fmr LLC owned about 2.80% of Summit Materials worth $87,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Summit Materials by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock valued at $145,000 after purchasing an additional 510 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Summit Materials by 27.8% during the first quarter. SG Americas Securities LLC now owns 7,300 shares of the construction company’s stock valued at $180,000 after purchasing an additional 1,589 shares in the last quarter. ARP Americas LLC bought a new position in shares of Summit Materials during the second quarter valued at about $211,000. Teacher Retirement System of Texas bought a new position in shares of Summit Materials during the first quarter valued at about $209,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Summit Materials by 4.4% during the second quarter. Venturi Wealth Management LLC now owns 8,541 shares of the construction company’s stock valued at $247,000 after purchasing an additional 360 shares in the last quarter.

Shares of Summit Materials, Inc. (NYSE SUM) opened at 31.45 on Thursday. Summit Materials, Inc. has a 12 month low of $17.84 and a 12 month high of $32.69. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 69.89 and a beta of 2.08. The firm has a 50-day moving average of $31.16 and a 200 day moving average of $31.16.

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

SUM has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $35.00 price target on shares of Summit Materials in a research report on Thursday, August 3rd. BidaskClub raised shares of Summit Materials from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Summit Materials from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 5th. TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $33.00 price target on shares of Summit Materials in a research report on Monday, June 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.20.

In other news, CEO Thomas W. Hill sold 6,200 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $30.04, for a total value of $186,248.00. Following the transaction, the chief executive officer now owns 170,610 shares in the company, valued at approximately $5,125,124.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas W. Hill sold 6,300 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $28.74, for a total transaction of $181,062.00. Following the completion of the transaction, the chief executive officer now owns 20,610 shares in the company, valued at approximately $592,331.40. The disclosure for this sale can be found here. Insiders sold a total of 622,733 shares of company stock worth $18,406,421 in the last quarter. Company insiders own 1.97% of the company’s stock.

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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.

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

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