Summit Materials, Inc. (SUM) EVP Damian John Murphy Sells 100,000 Shares

Summit Materials, Inc. (NYSE:SUM) EVP Damian John Murphy sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $30.66, for a total transaction of $3,066,000.00. Following the sale, the executive vice president now owns 104,398 shares of the company’s stock, valued at $3,200,842.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Summit Materials, Inc. (SUM) opened at 30.18 on Wednesday. The company has a market capitalization of $3.24 billion, a PE ratio of 67.07 and a beta of 2.05. The stock’s 50 day moving average is $29.92 and its 200 day moving average is $25.09. Summit Materials, Inc. has a one year low of $17.48 and a one year high of $30.45.

Summit Materials (NYSE:SUM) last released its earnings results on Wednesday, August 2nd. The construction company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.09). The company had revenue of $478.37 million during the quarter, compared to analysts’ expectations of $469.91 million. Summit Materials had a net margin of 2.46% and a return on equity of 9.90%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, analysts anticipate that Summit Materials, Inc. will post $1.22 earnings per share for the current fiscal year.

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SUM has been the subject of several research reports. Longbow Research initiated coverage on shares of Summit Materials in a research report on Thursday, June 8th. They set a “buy” rating and a $34.00 price objective for the company. BidaskClub upgraded shares of Summit Materials from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada restated a “buy” rating and set a $33.00 price objective on shares of Summit Materials in a research report on Monday, June 19th. Zacks Investment Research downgraded shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus restated a “buy” rating and set a $35.00 price objective on shares of Summit Materials in a research report on Thursday, August 3rd. One investment 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’s stock. The company has a consensus rating of “Buy” and an average target price of $30.43.

Several hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC purchased a new stake in shares of Summit Materials during the 2nd quarter valued at approximately $12,201,000. Verition Fund Management LLC purchased a new stake in shares of Summit Materials during the 2nd quarter valued at approximately $1,440,000. Westwood Holdings Group Inc. lifted its stake in shares of Summit Materials by 11.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 680,813 shares of the construction company’s stock valued at $19,655,000 after buying an additional 70,523 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Summit Materials by 4.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,400 shares of the construction company’s stock valued at $271,000 after buying an additional 443 shares in the last quarter. Finally, Castleark Management LLC purchased a new stake in shares of Summit Materials during the 2nd quarter valued at approximately $10,958,000.

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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