Raymond James & Associates boosted its stake in shares of Summit Materials Inc (NYSE:SUM) by 13.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 176,389 shares of the construction company’s stock after acquiring an additional 21,331 shares during the quarter. Raymond James & Associates owned about 0.16% of Summit Materials worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of SUM. Janus Henderson Group PLC boosted its holdings in Summit Materials by 47.0% in the third quarter. Janus Henderson Group PLC now owns 8,620,282 shares of the construction company’s stock valued at $156,717,000 after acquiring an additional 2,758,136 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Summit Materials by 27.1% during the fourth quarter. Jennison Associates LLC now owns 7,444,095 shares of the construction company’s stock valued at $92,307,000 after purchasing an additional 1,586,886 shares during the last quarter. Luminus Management LLC grew its holdings in shares of Summit Materials by 66.8% during the third quarter. Luminus Management LLC now owns 3,536,307 shares of the construction company’s stock valued at $64,290,000 after purchasing an additional 1,416,044 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Summit Materials by 64.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,622,324 shares of the construction company’s stock worth $20,117,000 after buying an additional 633,279 shares in the last quarter. Finally, Ashler Capital LLC grew its holdings in Summit Materials by 67.0% in the 3rd quarter. Ashler Capital LLC now owns 1,347,909 shares of the construction company’s stock worth $24,505,000 after buying an additional 540,762 shares in the last quarter.
In other Summit Materials news, CEO Thomas W. Hill purchased 31,250 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were acquired at an average price of $16.25 per share, with a total value of $507,812.50. Following the purchase, the chief executive officer now directly owns 135,652 shares in the company, valued at approximately $2,204,345. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.
Shares of NYSE:SUM traded up $0.18 on Monday, hitting $15.81. 1,334,600 shares of the company’s stock were exchanged, compared to its average volume of 1,738,106. Summit Materials Inc has a 12 month low of $11.25 and a 12 month high of $31.36. The company has a current ratio of 2.27, a quick ratio of 1.45 and a debt-to-equity ratio of 1.35. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 105.40, a price-to-earnings-growth ratio of 1.69 and a beta of 1.90.
Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, February 6th. The construction company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.20). The company had revenue of $491.00 million during the quarter, compared to analyst estimates of $459.58 million. Summit Materials had a net margin of 1.68% and a return on equity of 1.34%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. As a group, equities research analysts predict that Summit Materials Inc will post 0.81 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This story was originally reported by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.baseballdailydigest.com/news/2019/04/15/raymond-james-associates-has-2-19-million-stake-in-summit-materials-inc-sum.html.
Summit Materials Company Profile
Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other markets. It operates in three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.
Featured Article: Why are percentage gainers important?
Receive News & Ratings for Summit Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials and related companies with MarketBeat.com's FREE daily email newsletter.