Linden Thomas Advisory Services LLC grew its holdings in Summit Materials, Inc. (NYSE:SUM – Free Report) by 26.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,517 shares of the construction company’s stock after acquiring an additional 1,968 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Summit Materials were worth $366,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Signaturefd LLC raised its stake in Summit Materials by 110.3% in the fourth quarter. Signaturefd LLC now owns 654 shares of the construction company’s stock worth $25,000 after buying an additional 343 shares in the last quarter. BluePath Capital Management LLC bought a new stake in shares of Summit Materials during the third quarter valued at approximately $32,000. DekaBank Deutsche Girozentrale purchased a new stake in Summit Materials in the third quarter worth $54,000. Headlands Technologies LLC bought a new position in Summit Materials in the third quarter worth $77,000. Finally, Assetmark Inc. raised its holdings in Summit Materials by 20.9% in the third quarter. Assetmark Inc. now owns 5,021 shares of the construction company’s stock worth $156,000 after purchasing an additional 868 shares in the last quarter.
Summit Materials Price Performance
Shares of Summit Materials stock opened at $40.00 on Friday. 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, Inc. has a 52 week low of $26.43 and a 52 week high of $44.89. The stock’s 50-day simple moving average is $41.86 and its 200-day simple moving average is $37.87. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 16.81 and a beta of 1.32.
Wall Street Analysts Forecast Growth
SUM has been the topic of a number of analyst reports. JPMorgan Chase & Co. assumed coverage on Summit Materials in a research report on Friday, February 23rd. They issued an “overweight” rating and a $47.00 price target on the stock. Citigroup boosted their target price on Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada raised their price target on shares of Summit Materials from $39.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday, March 14th. Stephens reissued an “overweight” rating and set a $45.00 price objective on shares of Summit Materials in a report on Tuesday, February 13th. Finally, Truist Financial raised their target price on shares of Summit Materials from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.09.
Check Out Our Latest Analysis on SUM
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.
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