4,919 Shares in Summit Materials, Inc. (NYSE:SUM) Purchased by MONECO Advisors LLC

MONECO Advisors LLC bought a new position in shares of Summit Materials, Inc. (NYSE:SUM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,919 shares of the construction company’s stock, valued at approximately $249,000.

A number of other hedge funds have also recently bought and sold shares of SUM. Assenagon Asset Management S.A. grew its holdings in Summit Materials by 1,436.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock worth $44,501,000 after acquiring an additional 822,222 shares during the period. River Road Asset Management LLC grew its holdings in Summit Materials by 15.9% during the third quarter. River Road Asset Management LLC now owns 3,567,938 shares of the construction company’s stock worth $139,257,000 after acquiring an additional 488,688 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Summit Materials by 6.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,639,798 shares of the construction company’s stock worth $298,181,000 after acquiring an additional 429,062 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Summit Materials by 21.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock worth $68,419,000 after acquiring an additional 313,957 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Summit Materials in the 3rd quarter valued at $8,045,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SUM shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a research report on Monday, November 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a research report on Monday, November 25th. Truist Financial reiterated a “hold” rating and issued a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Citigroup reiterated a “neutral” rating and issued a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, DA Davidson increased their price target on Summit Materials from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Summit Materials presently has an average rating of “Hold” and a consensus price target of $50.54.

Summit Materials Trading Up 0.2 %

Shares of NYSE SUM opened at $52.54 on Wednesday. Summit Materials, Inc. has a one year low of $34.64 and a one year high of $54.07. The firm has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $51.86 and a two-hundred day moving average price of $46.26.

Insider Activity

In other news, insider Christopher Burke Gaskill sold 1,536 shares of Summit Materials stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total transaction of $78,197.76. Following the completion of the sale, the insider now directly owns 40,221 shares in the company, valued at $2,047,651.11. The trade was a 3.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

Summit Materials Company 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.