KBC Group NV Has $270,000 Stock Position in Summit Materials, Inc. (NYSE:SUM)

KBC Group NV increased its position in shares of Summit Materials, Inc. (NYSE:SUM) by 40.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,335 shares of the construction company’s stock after acquiring an additional 1,528 shares during the quarter. KBC Group NV’s holdings in Summit Materials were worth $270,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Summit Materials by 179.2% during the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after buying an additional 353 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Summit Materials by 6.3% in the 3rd quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock valued at $270,000 after purchasing an additional 411 shares during the period. Toth Financial Advisory Corp boosted its position in shares of Summit Materials by 147.1% in the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Summit Materials by 16.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,717 shares of the construction company’s stock worth $173,000 after purchasing an additional 680 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in Summit Materials in the third quarter valued at about $27,000.

Insider Activity at Summit Materials

In other news, insider Christopher Burke Gaskill sold 1,536 shares of Summit Materials stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total value of $78,197.76. Following the completion of the transaction, the insider now owns 40,221 shares of the company’s stock, valued at $2,047,651.11. This trade represents a 3.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.55% of the company’s stock.

Summit Materials Trading Down 0.0 %

Summit Materials stock opened at $52.30 on Tuesday. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 63.78 and a beta of 1.13. The firm has a 50-day moving average of $51.31 and a 200-day moving average of $44.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials, Inc. has a one year low of $34.64 and a one year high of $53.49.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SUM shares. Longbow Research restated a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $52.50 target price (down from $54.00) on shares of Summit Materials in a report on Monday, November 25th. DA Davidson boosted their price target on shares of Summit Materials from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. StockNews.com assumed coverage on Summit Materials in a research note on Thursday, January 30th. They set a “sell” rating on the stock. Finally, Jefferies Financial Group cut Summit Materials from a “buy” rating to a “hold” rating and decreased their target price for the company from $58.00 to $52.50 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Summit Materials presently has an average rating of “Hold” and a consensus price target of $50.54.

Summit Materials Profile

Summit Materials, Inc is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada.