Capital Analysts LLC Increases Stake in Summit Materials, Inc. (NYSE:SUM)

Capital Analysts LLC lifted its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,933 shares of the construction company’s stock after buying an additional 799 shares during the quarter. Capital Analysts LLC’s holdings in Summit Materials were worth $2,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Janney Capital Management LLC grew its holdings in Summit Materials by 2.7% in the third quarter. Janney Capital Management LLC now owns 13,160 shares of the construction company’s stock worth $410,000 after purchasing an additional 350 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Summit Materials by 1.7% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,577 shares of the construction company’s stock worth $641,000 after buying an additional 377 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its stake in shares of Summit Materials by 5.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,413 shares of the construction company’s stock worth $210,000 after buying an additional 415 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Summit Materials by 81.3% in the second quarter. Benjamin Edwards Inc. now owns 939 shares of the construction company’s stock worth $36,000 after buying an additional 421 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Summit Materials by 1.4% in the third quarter. Arizona State Retirement System now owns 33,834 shares of the construction company’s stock worth $1,054,000 after buying an additional 460 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SUM shares. Barclays increased their price objective on shares of Summit Materials from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. initiated coverage on shares of Summit Materials in a research note on Friday, February 23rd. They issued an “overweight” rating and a $47.00 price objective for the company. Stephens reissued an “overweight” rating and set a $45.00 target price on shares of Summit Materials in a research report on Tuesday, February 13th. Citigroup boosted their target price on shares of Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial lifted their price objective on shares of Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Summit Materials currently has an average rating of “Moderate Buy” and an average target price of $46.09.

Summit Materials Price Performance

Shares of Summit Materials stock traded down $0.67 during trading hours on Tuesday, reaching $39.52. 42,164 shares of the company’s stock were exchanged, compared to its average volume of 961,242. Summit Materials, Inc. has a 1 year low of $26.18 and a 1 year high of $44.89. The company has a market capitalization of $6.89 billion, a P/E ratio of 16.89 and a beta of 1.32. The business has a fifty day moving average of $41.69 and a two-hundred day moving average of $37.49. The company has a quick ratio of 4.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.99.

Summit Materials (NYSE:SUM) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. The firm had revenue of $613.13 million during the quarter, compared to analyst estimates of $560.90 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Summit Materials’s quarterly revenue was up 19.8% on a year-over-year basis. As a group, research analysts predict that Summit Materials, Inc. will post 2.28 earnings per share for the current fiscal year.

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.