Summit Materials, Inc. (NYSE:SUM) Insider Sells $2,034,183.69 in Stock

Summit Materials, Inc. (NYSE:SUM) insider Jason Kilgore sold 50,589 shares of Summit Materials stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $40.21, for a total transaction of $2,034,183.69. Following the transaction, the insider now directly owns 60,630 shares in the company, valued at approximately $2,437,932.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Summit Materials Trading Down 4.7 %

Shares of SUM stock opened at $40.13 on Friday. The company has a market cap of $7.04 billion, a PE ratio of 17.92 and a beta of 1.34. The stock’s 50 day simple moving average is $41.30 and its two-hundred day simple moving average is $38.57. Summit Materials, Inc. has a 1 year low of $29.98 and a 1 year high of $44.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.58 and a quick ratio of 1.93.

Summit Materials (NYSE:SUM) last announced its quarterly earnings data on Wednesday, May 1st. The construction company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.11. The business had revenue of $773.23 million during the quarter, compared to the consensus estimate of $803.98 million. Summit Materials had a net margin of 8.36% and a return on equity of 7.33%. The firm’s quarterly revenue was up 89.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.26) earnings per share. Research analysts predict that Summit Materials, Inc. will post 2.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SUM has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on shares of Summit Materials from $44.00 to $46.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. Barclays increased their target price on Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Stephens boosted their price target on Summit Materials from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Truist Financial lifted their price objective on shares of Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Summit Materials from $43.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.92.

Hedge Funds Weigh In On Summit Materials

Several hedge funds have recently bought and sold shares of SUM. Signaturefd LLC lifted its position in shares of Summit Materials by 110.3% during the fourth quarter. Signaturefd LLC now owns 654 shares of the construction company’s stock worth $25,000 after purchasing an additional 343 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Summit Materials by 113.7% during the 4th quarter. Parallel Advisors LLC now owns 750 shares of the construction company’s stock valued at $29,000 after buying an additional 399 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of Summit Materials during the first quarter worth approximately $45,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Summit Materials during the third quarter valued at approximately $54,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Summit Materials by 25.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,902 shares of the construction company’s stock valued at $73,000 after purchasing an additional 382 shares during the period.

Summit Materials Company Profile

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.