New Big Money Means Summit Materials Inc. (SUM) Investors Could Reap Benefit

288 institutions hold shares in Summit Materials Inc. (SUM), with 661.94k shares held by insiders accounting for 0.58% while institutional investors hold 105.84% of the company’s shares. The shares outstanding are 114.12M, and float is at 113.47M with Short Float at 6.84%. Institutions hold 105.22% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 10.11 million shares valued at $203.1 million. The investor’s holdings represent 8.86% of the SUM Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 9.36 million shares valued at $187.88 million to account for 8.20% of the shares outstanding. The other top investors are FMR, LLC which holds 9.05 million shares representing 7.93% and valued at over $181.82 million, while Price (T.Rowe) Associates Inc holds 7.04% of the shares totaling 8.03 million with a market value of $161.24 million.

Summit Materials Inc. (NYSE: SUM) is 30.03% higher on its value in year-to-date trading and has touched a low of $7.51 and a high of $25.63 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SUM stock was last observed hovering at around $25.11 in the last trading session, with the day’s gains setting it 1.0% off its average median price target of $24.00 for the next 12 months. It is also 9.97% off the consensus price target high of $29.00 offered by 15 analysts, but current levels are -63.19% lower than the price target low of $16.00 for the same period.

Currently trading at $26.11, the stock is 11.52% and 17.97% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.06 million and changing 3.98% at the moment leaves the stock 44.12% off its SMA200. SUM registered 16.88% gain for a year compared to 6-month gain of 67.59%. The firm has a 50-day simple moving average (SMA 50) of $23.47 and a 200-day simple moving average (SMA200) of $19.24.

The stock witnessed a 10.26% loss in the last 1 month and extending the period to 3 months gives it a 39.85%, and is 6.57% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.64% over the week and 5.37% over the month.

Summit Materials Inc. (SUM) has around 6000 employees, a market worth around $2.73B and $2.26B in sales. Current P/E ratio is 21.54 and Fwd P/E is 30.61. Profit margin for the company is 6.10%. Distance from 52-week low is 247.67% and 1.87% from its 52-week high. The company has generated returns on investments over the last 12 months (5.50%).

Summit Materials Inc. (SUM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Summit Materials Inc. (SUM) is a “Overweight”. 15 analysts offering their recommendations for the stock have an average rating of 2.10, where 2 rate it as a Hold and 0 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Summit Materials Inc. is expected to release its quarterly report on 05/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.17 with sales reaching $513.52M over the same period.The EPS is expected to grow by 14.30% this year, but quarterly earnings will post 3.70% year-over-year. Quarterly sales are estimated to grow 1.40% in year-over-year returns.

Summit Materials Inc. (SUM) Insider Activity

A total of 7 insider transactions have happened at Summit Materials Inc. (SUM) in the last six months, with sales accounting for 3 and purchases happening 4 times. The most recent transaction is an insider purchase by CANTIE JOSEPH S, the company’s Director. SEC filings show that CANTIE JOSEPH S bought 5,100 shares of the company’s common stock on Dec 18 at a price of $19.66 per share for a total of $0.1 million. Following the purchase, the insider now owns 5100.0 shares.

Summit Materials Inc. disclosed in a document filed with the SEC on Nov 02 that Benedict Anne Lee sold a total of 8,250 shares of the company’s common stock. The trade occurred on Nov 02 and was made at $18.48 per share for $0.15 million. Following the transaction, the insider now directly holds 11864.0 shares of the SUM stock.

Still, SEC filings show that on Sep 04, Noonan Anne P (President & CEO) acquired 66,000 shares at an average price of $15.24 for $1.01 million. The insider now directly holds 66,000 shares of Summit Materials Inc. (SUM).

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Summit Materials Inc. (SUM): Who are the competitors?

The company’s main competitors (and peers) include Caterpillar Inc. (CAT) that is trading 66.59% up over the past 12 months. The Manitowoc Company Inc. (MTW) is 28.30% up on the 1-year trading charts. Short interest in the company’s stock has fallen -3.48% from the last report on Dec 30, 2020 to stand at a total of 8.03 million short shares sold with a short interest ratio of 5.83.

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