Strengthening Families & Communities LLC Buys 3,655 Shares of Summit Materials, Inc. (NYSE:SUM)

Strengthening Families & Communities LLC boosted its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,902 shares of the construction company’s stock after acquiring an additional 3,655 shares during the period. Strengthening Families & Communities LLC’s holdings in Summit Materials were worth $1,674,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Summit Materials by 2.2% in the first quarter. Vanguard Group Inc. now owns 12,240,546 shares of the construction company’s stock worth $545,561,000 after buying an additional 262,179 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Summit Materials by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,837,110 shares of the construction company’s stock worth $393,871,000 after buying an additional 22,840 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Summit Materials by 6.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,210,736 shares of the construction company’s stock worth $263,985,000 after buying an additional 448,922 shares in the last quarter. Principal Financial Group Inc. raised its stake in Summit Materials by 1.8% during 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 in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Summit Materials by 7.0% during the second quarter. Victory Capital Management Inc. now owns 3,678,485 shares of the construction company’s stock valued at $134,669,000 after purchasing an additional 241,757 shares in the last quarter.

Summit Materials Trading Down 0.2 %

Shares of SUM opened at $48.43 on Monday. Summit Materials, Inc. has a 52-week low of $33.70 and a 52-week high of $51.74. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average is $41.74 and its two-hundred day moving average is $39.62. The stock has a market cap of $8.50 billion, a PE ratio of 59.06 and a beta of 1.14.

Summit Materials (NYSE:SUM) last announced its earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The firm’s quarterly revenue was up 49.9% on a year-over-year basis. Research analysts forecast that Summit Materials, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SUM. Stephens restated an “overweight” rating and issued a $47.00 price target on shares of Summit Materials in a report on Tuesday, August 6th. StockNews.com upgraded shares of Summit Materials from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Jefferies Financial Group lowered their price target on shares of Summit Materials from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Citigroup decreased their price objective on shares of Summit Materials from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada raised their price target on shares of Summit Materials from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.38.

Summit Materials 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.