Summit Materials, Inc. (NYSE:SUM) Shares Acquired by American Trust

American Trust grew its holdings in Summit Materials, Inc. (NYSE:SUM) by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,026 shares of the construction company’s stock after buying an additional 557 shares during the quarter. American Trust’s holdings in Summit Materials were worth $313,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Comerica Bank raised its holdings in Summit Materials by 215.3% during the first quarter. Comerica Bank now owns 91,053 shares of the construction company’s stock worth $4,058,000 after purchasing an additional 62,173 shares during the last quarter. Interval Partners LP acquired a new position in Summit Materials during the first quarter worth $18,051,000. Kennedy Capital Management LLC raised its holdings in Summit Materials by 41.6% during the first quarter. Kennedy Capital Management LLC now owns 276,429 shares of the construction company’s stock worth $12,320,000 after purchasing an additional 81,180 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Summit Materials during the first quarter worth $726,000. Finally, Silvercrest Asset Management Group LLC raised its holdings in Summit Materials by 38.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 147,375 shares of the construction company’s stock worth $6,569,000 after purchasing an additional 41,281 shares during the last quarter.

Insider Buying and Selling at Summit Materials

In other Summit Materials news, insider Jason Kilgore sold 50,589 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $40.21, for a total transaction of $2,034,183.69. Following the completion of the sale, the insider now owns 60,630 shares of the company’s stock, valued at $2,437,932.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.

Summit Materials Trading Down 4.3 %

Summit Materials stock traded down $1.73 during trading on Friday, hitting $38.73. The company’s stock had a trading volume of 1,224,775 shares, compared to its average volume of 1,003,760. The stock’s fifty day moving average is $37.86 and its 200 day moving average is $39.44. 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 quick ratio of 1.93 and a current ratio of 2.58. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 17.29 and a beta of 1.15.

Summit Materials (NYSE:SUM) last posted its quarterly earnings results on Wednesday, May 1st. The construction company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. Summit Materials had a return on equity of 7.33% and a net margin of 8.36%. The firm had revenue of $773.23 million during the quarter, compared to the consensus estimate of $803.98 million. During the same quarter in the previous year, the business earned ($0.26) earnings per share. The firm’s quarterly revenue was up 89.9% compared to the same quarter last year. As a group, equities research analysts predict that Summit Materials, Inc. will post 1.82 EPS for the current year.

Analysts Set New Price Targets

SUM has been the subject of several research reports. Stifel Nicolaus reduced their price objective on Summit Materials from $55.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Wolfe Research raised Summit Materials from a “peer perform” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Wednesday, May 15th. Citigroup cut their price target on Summit Materials from $51.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, July 11th. StockNews.com cut Summit Materials from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Summit Materials presently has an average rating of “Moderate Buy” and an average target price of $47.40.

About Summit Materials

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.