1,017 Shares in Summit Materials, Inc. (NYSE:SUM) Purchased by Register Financial Advisors LLC

Register Financial Advisors LLC acquired a new stake in Summit Materials, Inc. (NYSE:SUM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,017 shares of the construction company’s stock, valued at approximately $45,000.

A number of other hedge funds also recently bought and sold shares of SUM. Norges Bank acquired a new stake in Summit Materials in the 4th quarter valued at about $49,437,000. Massachusetts Financial Services Co. MA raised its holdings in Summit Materials by 20.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,650,459 shares of the construction company’s stock valued at $255,777,000 after acquiring an additional 1,137,500 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Summit Materials in the 3rd quarter valued at about $9,221,000. American Century Companies Inc. raised its holdings in Summit Materials by 18.4% in the 3rd quarter. American Century Companies Inc. now owns 1,196,122 shares of the construction company’s stock valued at $37,247,000 after acquiring an additional 185,998 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Summit Materials by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 11,925,288 shares of the construction company’s stock valued at $371,353,000 after acquiring an additional 136,921 shares during the last quarter.

Summit Materials Stock Performance

NYSE:SUM opened at $36.62 on Friday. 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 $6.43 billion, a P/E ratio of 16.35 and a beta of 1.27. The company has a 50 day moving average price of $38.61 and a 200 day moving average price of $39.30. Summit Materials, Inc. has a fifty-two week low of $29.98 and a fifty-two week high of $44.89.

Summit Materials (NYSE:SUM) last posted its quarterly earnings data on Wednesday, May 1st. The construction company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.11. The firm had revenue of $773.23 million during the quarter, compared to analysts’ expectations of $803.98 million. Summit Materials had a net margin of 8.36% and a return on equity of 7.33%. The firm’s quarterly revenue was up 89.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.26) EPS. Equities research analysts forecast that Summit Materials, Inc. will post 1.85 EPS for the current year.

Insider Buying and Selling

In other Summit Materials news, insider Jason Kilgore sold 50,589 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $40.21, for a total value of $2,034,183.69. Following the completion of the transaction, the insider now owns 60,630 shares of the company’s stock, valued at approximately $2,437,932.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SUM has been the subject of a number of recent research reports. StockNews.com downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Citigroup raised their price target on shares of Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, April 5th. The Goldman Sachs Group raised their price target on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Royal Bank of Canada raised their price target on shares of Summit Materials from $44.00 to $46.00 and gave the stock a “sector perform” rating in a report on Friday, May 3rd. Finally, Stephens raised their price target on shares of Summit Materials from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.92.

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.