Dimensional Fund Advisors LP lifted its position in shares of Summit Materials Inc (NYSE:SUM) by 13.1% during the third quarter, HoldingsChannel reports. The firm owned 1,362,472 shares of the construction company’s stock after acquiring an additional 157,773 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Summit Materials were worth $43,640,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUM. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Summit Materials by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock worth $145,000 after buying an additional 510 shares during the last quarter. First Manhattan Co. purchased a new position in shares of Summit Materials during the third quarter worth about $160,000. Daiwa Securities Group Inc. purchased a new position in shares of Summit Materials during the third quarter worth about $202,000. Ameritas Investment Partners Inc. grew its holdings in shares of Summit Materials by 4.9% during the second quarter. Ameritas Investment Partners Inc. now owns 9,400 shares of the construction company’s stock worth $271,000 after buying an additional 443 shares during the last quarter. Finally, Comerica Bank purchased a new position in shares of Summit Materials during the second quarter worth about $296,000.
In other Summit Materials news, insider Douglas Charles Rauh sold 26,324 shares of Summit Materials stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $31.36, for a total value of $825,520.64. Following the sale, the insider now owns 18,724 shares of the company’s stock, valued at approximately $587,184.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $32.12, for a total value of $401,500.00. Following the completion of the sale, the insider now directly owns 139,310 shares in the company, valued at approximately $4,474,637.20. The disclosure for this sale can be found here. Insiders sold a total of 203,942 shares of company stock worth $6,396,392 in the last ninety days. 1.97% of the stock is owned by corporate insiders.
Shares of Summit Materials Inc (NYSE:SUM) opened at $31.60 on Wednesday. Summit Materials Inc has a twelve month low of $22.19 and a twelve month high of $32.69. The firm has a market capitalization of $3,600.00 and a P/E ratio of 46.47. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.59 and a quick ratio of 2.01.
Summit Materials (NYSE:SUM) last announced its quarterly earnings data on Monday, October 30th. The construction company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analysts’ expectations of $558.93 million. During the same period in the prior year, the firm posted $0.73 EPS. Summit Materials’s revenue for the quarter was up 19.8% compared to the same quarter last year. equities research analysts forecast that Summit Materials Inc will post 0.97 earnings per share for the current fiscal year.
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About Summit Materials
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.
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