Nisa Investment Advisors LLC Buys 184,158 Shares of Summit Materials, Inc. (NYSE:SUM)

Nisa Investment Advisors LLC increased its stake in Summit Materials, Inc. (NYSE:SUM) by 2,256.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 192,319 shares of the construction company’s stock after acquiring an additional 184,158 shares during the period. Nisa Investment Advisors LLC’s holdings in Summit Materials were worth $9,731,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Summit Materials during the fourth quarter worth $704,000. Franklin Resources Inc. bought a new stake in Summit Materials during the 3rd quarter worth about $7,359,000. Principal Financial Group Inc. lifted its position in Summit Materials by 1.8% during the 3rd 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 period. Assenagon Asset Management S.A. boosted its stake in shares of Summit Materials by 1,436.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock valued at $44,501,000 after purchasing an additional 822,222 shares during the last quarter. Finally, Ausbil Investment Management Ltd grew its position in shares of Summit Materials by 355.8% during the 3rd quarter. Ausbil Investment Management Ltd now owns 23,963 shares of the construction company’s stock worth $935,000 after buying an additional 18,706 shares during the period.

Insider Activity

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was 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 in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is owned by corporate insiders.

Summit Materials Stock Performance

SUM opened at $52.19 on Friday. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 63.64 and a beta of 1.14. The business’s 50-day moving average price is $50.89 and its two-hundred day moving average price is $43.91. Summit Materials, Inc. has a 1 year low of $34.64 and a 1 year high of $53.49. 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 (NYSE:SUM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.17 billion. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. Summit Materials’s quarterly revenue was up 49.9% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. Equities analysts expect that Summit Materials, Inc. will post 1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup reaffirmed a “neutral” rating and issued a $52.50 price objective (down from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Barclays raised Summit Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $45.00 to $52.00 in a research note on Tuesday, October 29th. Longbow Research restated a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. DA Davidson increased their price target on shares of Summit Materials from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $52.50 price objective (up previously from $43.00) on shares of Summit Materials in a report on Monday, November 25th. One investment 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, the stock currently has an average rating of “Hold” and a consensus target price of $50.54.

About Summit Materials

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.