Summit Materials, Inc. (SUM) Stake Increased by First Trust Advisors LP

First Trust Advisors LP raised its position in shares of Summit Materials, Inc. (NYSE:SUM) by 20.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 178,623 shares of the construction company’s stock after buying an additional 30,828 shares during the period. First Trust Advisors LP owned about 0.17% of Summit Materials worth $5,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spot Trading L.L.C. bought a new stake in shares of Summit Materials during the first quarter valued at approximately $545,000. Principal Financial Group Inc. grew its stake in shares of Summit Materials by 96.9% during the first quarter. Principal Financial Group Inc. now owns 21,368 shares of the construction company’s stock valued at $528,000 after purchasing an additional 10,515 shares during the last quarter. FMR LLC grew its stake in shares of Summit Materials by 2.1% during the first quarter. FMR LLC now owns 420,458 shares of the construction company’s stock valued at $10,390,000 after purchasing an additional 8,500 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Summit Materials by 24.1% during the first quarter. Teachers Advisors LLC now owns 548,985 shares of the construction company’s stock valued at $13,565,000 after purchasing an additional 106,581 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Summit Materials by 37.5% during the first quarter. Legal & General Group Plc now owns 77,227 shares of the construction company’s stock valued at $1,911,000 after purchasing an additional 21,045 shares during the last quarter.

Several analysts have recently commented on SUM shares. Stifel Nicolaus reissued a “buy” rating and set a $35.00 price target on shares of Summit Materials in a research note on Thursday, August 3rd. BidaskClub raised shares of Summit Materials from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and set a $12.50 price target on shares of Summit Materials in a research note on Wednesday, November 8th. Zacks Investment Research raised shares of Summit Materials from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $30.79.

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In other Summit Materials news, insider Thomas W. Hill sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $30.26, for a total value of $378,250.00. Following the transaction, the insider now directly owns 126,810 shares of the company’s stock, valued at $3,837,270.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas W. Hill sold 6,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $30.27, for a total transaction of $190,701.00. Following the completion of the transaction, the chief executive officer now directly owns 170,610 shares in the company, valued at $5,164,364.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 271,610 shares of company stock worth $8,301,282. Insiders own 1.97% of the company’s stock.

Summit Materials, Inc. (SUM) opened at $29.06 on Thursday. Summit Materials, Inc. has a 52 week low of $22.19 and a 52 week high of $32.69. The stock has a market cap of $3,243.28, a P/E ratio of 32.50, a price-to-earnings-growth ratio of 2.74 and a beta of 2.04. 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 quarterly earnings data on Monday, October 30th. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The business had revenue of $634.18 million during the quarter, compared to the consensus estimate of $558.93 million. During the same period in the previous year, the business posted $0.73 earnings per share. Summit Materials’s revenue was up 19.8% compared to the same quarter last year. equities research analysts predict that Summit Materials, Inc. will post 1.04 EPS for the current year.

Summit Materials 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.

Institutional Ownership by Quarter for Summit Materials (NYSE:SUM)

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