Summit Materials, Inc. (NYSE:SUM) Shares Sold by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. trimmed its position in shares of Summit Materials, Inc. (NYSE:SUM) by 28.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 29,113 shares of the construction company’s stock after selling 11,687 shares during the period. Amica Mutual Insurance Co.’s holdings in Summit Materials were worth $1,473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Summit Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,373,001 shares of the construction company’s stock valued at $626,074,000 after buying an additional 56,602 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Summit Materials by 1.8% in the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock valued at $206,445,000 after purchasing an additional 94,694 shares during the last quarter. Geode Capital Management LLC grew its stake in Summit Materials by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock valued at $108,885,000 after purchasing an additional 9,566 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Summit Materials by 293.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,863,463 shares of the construction company’s stock worth $94,291,000 after purchasing an additional 1,389,955 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Summit Materials by 21.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock valued at $68,419,000 after purchasing an additional 313,957 shares in the last quarter.

Analyst Upgrades and Downgrades

SUM has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on shares of Summit Materials in a research report on Thursday. They set a “sell” rating for the company. Jefferies Financial Group lowered shares of Summit Materials from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $58.00 to $52.50 in a report on Monday, December 16th. Finally, Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Summit Materials presently has an average rating of “Hold” and a consensus target price of $50.67.

Summit Materials Stock Performance

Shares of SUM stock opened at $52.54 on Thursday. The company has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The business has a 50 day moving average of $52.45 and a two-hundred day moving average of $48.22. Summit Materials, Inc. has a 52 week low of $34.64 and a 52 week high of $54.07. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62.

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.