Summit Materials Inc (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $31.24, for a total transaction of $390,500.00. Following the sale, the insider now owns 176,810 shares of the company’s stock, valued at approximately $5,523,544.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of Summit Materials Inc (SUM) traded up $0.20 during mid-day trading on Friday, hitting $31.85. 661,389 shares of the stock traded hands, compared to its average volume of 1,160,000. Summit Materials Inc has a one year low of $21.88 and a one year high of $32.59. The firm has a market cap of $3,630.00 and a price-to-earnings ratio of 46.84. The company has a quick ratio of 2.01, a current ratio of 2.59 and a debt-to-equity ratio of 1.48.

Summit Materials (NYSE:SUM) last announced its earnings results on Monday, October 30th. The construction company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.10). The company had revenue of $634.18 million during the quarter, compared to analyst estimates of $558.93 million. Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. Summit Materials’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. sell-side analysts predict that Summit Materials Inc will post 0.97 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in SUM. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Summit Materials by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock worth $145,000 after purchasing an additional 510 shares during the period. First Manhattan Co. acquired a new position in Summit Materials in the 3rd quarter worth $160,000. Cubist Systematic Strategies LLC acquired a new position in Summit Materials in the 3rd quarter worth $180,000. Daiwa Securities Group Inc. acquired a new position in Summit Materials in the 3rd quarter worth $202,000. Finally, Engineers Gate Manager LP acquired a new position in Summit Materials in the 3rd quarter worth $268,000.

Several equities analysts have recently issued reports on the stock. Barclays assumed coverage on shares of Summit Materials in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $32.00 price target for the company. Canaccord Genuity reissued a “buy” rating and issued a $12.50 price target on shares of Summit Materials in a report on Wednesday, November 8th. Zacks Investment Research lowered shares of Summit Materials from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Bank of America boosted their price target on shares of Summit Materials from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, SunTrust Banks set a $38.00 price target on shares of Summit Materials and gave the company a “buy” rating in a report on Tuesday, October 24th. 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 presently has an average rating of “Buy” and an average target price of $31.50.

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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.

Insider Buying and Selling by Quarter for Summit Materials (NYSE:SUM)

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