Here is the rundown on market activity for Summit Materials, Inc. Class A (NYSE:SUM). President and CEO Thomas W. Hill sold 12,500 shares at a price of $27.62 on Thu the 8th. That brings Hill’s holdings to $1,390,943 as recorded in a recent Form 4 SEC filing. See Remarks Douglas Charles Rauh disclosed the sale of 19,000 shares. The shares were sold on June 6th for an average price of $26.81. The See Remarks now owns $196,062 of the stock per the Form 4 SEC filing.
Thomas W. Hill, President and CEO disclosed the sale of 12,500 shares of (SUM). The shares sold for $26.94. Hill now owns $1,693,448 of the stock according to the SEC filing.
Summit Materials, Inc., launched on September 23, 2014, 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 Business’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. Within its markets, it offers construction materials and related downstream products through its vertical integration. In addition to supplying of aggregates to its customers, the Company also uses its materials internally to produce ready mix concrete and asphalt paving mix. Its construction materials operations consists of aggregates production, including crushed stone and construction sand and gravel, cement and ready-mixed concrete production, and asphalt paving mix production..
Here are a few additional firms who have increased or decreased their stake in (SUM). Levin Capital Strategies, L.p. expanded its ownership by buying 636,416 shares an increase of 22.2% from 12/31/2016 to 03/31/2017. Levin Capital Strategies, L.p. now holds 3,508,198 shares worth $86,688,000. The total value of its holdings increased 26.9%. As of the end of the quarter Steadfast Capital Management Lp had bought a total of 68,504 shares growing its stake by 4.3%. The value of the total investment in Summit Materials, Inc. Class A increased from $37,731,000 to $40,883,000 a change of 8.4% since the last quarter.
Morgan Stanley bolstered its position by buying 783 shares an increase of 94.5% in the quarter. Morgan Stanley controls 1,612 shares valued at $40,000. The value of the position overall is up by 100.0%. As of quarter end Tower Research Capital LLC (trc) had acquired 9,990 shares growing its position 871.7%. The value in dollars went from $27,000 to $275,000 a change of $248,000 quarter over quarter.
Equity analyst Longbow Research added SUM to its research portfolio with an initial rating of “Buy”. On November 16 the stock rating was downgraded to “Neutral” from “Buy” in an announcement from Bank of America.
Equity analyst Goldman Sachs downgraded the stock and lowered the price target on October 11 cutting the price target from $29.00 to $26.00 and moving the rating from “Buy” to “Buy”. On October 11 the company was downgraded from “Buy” to “Buy” with a current price target of $26.00 in a statement from Goldman Sachs.
April 18 investment analysts at Citigroup left the stock rating at “Buy” and raised the price target from $21.00 to $24.00. On March 22 Barclays kept the company rating at “Equal-weight” and moved up the price target to $20.00 from $19.00.
The company is so far trading up by 0.64% since yesterday’s close of $27.91. The stock is trading at $28.09 a tad higher than $26.97, the 50 day moving average and slightly over the 200 day moving average of $24.88. The 50 day moving average was up by +4.14% whereas the 200 day moving average was up $3.21 or +12.88%.
The P/E ratio is currently 425.61 and the market cap of the company is 2.99B. In the last earnings report the EPS was $0.07 and is projected to be $1.39 for the current year with 106,403,000 shares now outstanding. Next quarter’s EPS is estimated at $0.93 and the next full year EPS is projected to be $1.85.