Knights of Columbus Asset Advisors LLC Acquires 93,487 Shares of Summit Materials, Inc. (NYSE:SUM)

Knights of Columbus Asset Advisors LLC grew its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 94.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 192,349 shares of the construction company’s stock after acquiring an additional 93,487 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.16% of Summit Materials worth $7,398,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Cannon Global Investment Management LLC acquired a new stake in Summit Materials in the fourth quarter valued at $354,000. Federated Hermes Inc. increased its stake in shares of Summit Materials by 37.3% in the fourth quarter. Federated Hermes Inc. now owns 231,394 shares of the construction company’s stock valued at $8,899,000 after buying an additional 62,889 shares during the period. River Road Asset Management LLC raised its position in shares of Summit Materials by 6.8% during the fourth quarter. River Road Asset Management LLC now owns 1,727,475 shares of the construction company’s stock worth $66,439,000 after acquiring an additional 109,985 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Summit Materials by 63.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,140 shares of the construction company’s stock worth $2,121,000 after acquiring an additional 21,432 shares during the period. Finally, Capital Analysts LLC boosted its holdings in Summit Materials by 1.2% in the fourth quarter. Capital Analysts LLC now owns 66,933 shares of the construction company’s stock valued at $2,574,000 after acquiring an additional 799 shares during the last quarter.

Summit Materials Stock Down 0.4 %

Summit Materials stock traded down $0.16 during mid-day trading on Friday, reaching $38.31. The stock had a trading volume of 351,756 shares, compared to its average volume of 966,969. The firm has a market capitalization of $6.68 billion, a PE ratio of 16.16 and a beta of 1.32. Summit Materials, Inc. has a fifty-two week low of $26.18 and a fifty-two week high of $44.89. The stock’s 50-day simple moving average is $41.80 and its 200-day simple moving average is $37.57. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.62 and a current ratio of 5.36.

Summit Materials (NYSE:SUM) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. The business had revenue of $613.13 million during the quarter, compared to the consensus estimate of $560.90 million. During the same quarter last year, the firm posted $0.32 EPS. Summit Materials’s revenue was up 19.8% compared to the same quarter last year. On average, sell-side analysts forecast that Summit Materials, Inc. will post 2.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SUM has been the subject of several analyst reports. Royal Bank of Canada raised their price target on shares of Summit Materials from $39.00 to $44.00 and gave the stock a “sector perform” rating in a report on Thursday, March 14th. Stephens restated an “overweight” rating and issued a $45.00 target price on shares of Summit Materials in a report on Tuesday, February 13th. Citigroup increased their price target on Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Barclays lifted their price objective on Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, JPMorgan Chase & Co. assumed coverage on Summit Materials in a research report on Friday, February 23rd. They set an “overweight” rating and a $47.00 target price on the stock. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.09.

Summit Materials Company Profile

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.