Christopher Burke Gaskill Sells 1,536 Shares of Summit Materials, Inc. (NYSE:SUM) Stock

Summit Materials, Inc. (NYSE:SUM) insider Christopher Burke Gaskill sold 1,536 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total value of $78,197.76. Following the transaction, the insider now directly owns 40,221 shares in the company, valued at $2,047,651.11. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Summit Materials Price Performance

Shares of NYSE SUM opened at $50.85 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The company has a market cap of $8.93 billion, a PE ratio of 62.01 and a beta of 1.14. The business has a 50-day simple moving average of $46.18 and a two-hundred day simple moving average of $40.94. Summit Materials, Inc. has a fifty-two week low of $34.38 and a fifty-two week high of $53.49.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.17 billion. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The company’s quarterly revenue was up 49.9% on a year-over-year basis. During the same quarter last year, the company earned $0.81 earnings per share. As a group, equities analysts expect that Summit Materials, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Summit Materials

Several institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its holdings in Summit Materials by 6.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,639,798 shares of the construction company’s stock worth $298,181,000 after acquiring an additional 429,062 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Summit Materials by 1.8% in the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock worth $206,445,000 after acquiring an additional 94,694 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Summit Materials by 7.0% in the second quarter. Victory Capital Management Inc. now owns 3,678,485 shares of the construction company’s stock worth $134,669,000 after acquiring an additional 241,757 shares in the last quarter. River Road Asset Management LLC boosted its holdings in Summit Materials by 15.9% in the third quarter. River Road Asset Management LLC now owns 3,567,938 shares of the construction company’s stock worth $139,257,000 after acquiring an additional 488,688 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Summit Materials by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock worth $108,885,000 after purchasing an additional 9,566 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SUM shares. Truist Financial reissued a “hold” rating and set a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Citigroup reissued a “neutral” rating and set a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Longbow Research reissued a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. DA Davidson increased their price target on Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com began coverage on Summit Materials in a research report on Friday. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.81.

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.