NBW Capital LLC Sells 3,271 Shares of Summit Materials, Inc. (NYSE:SUM)

NBW Capital LLC decreased its position in Summit Materials, Inc. (NYSE:SUM) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 51,074 shares of the construction company’s stock after selling 3,271 shares during the period. NBW Capital LLC’s holdings in Summit Materials were worth $2,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Summit Materials in the fourth quarter worth approximately $704,000. Franklin Resources Inc. bought a new stake in Summit Materials in the third quarter valued at $7,359,000. 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 acquiring an additional 94,694 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Summit Materials by 1,436.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock valued at $44,501,000 after acquiring an additional 822,222 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Summit Materials by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 287,733 shares of the construction company’s stock valued at $11,230,000 after acquiring an additional 10,463 shares in the last quarter.

Summit Materials Price Performance

SUM opened at $52.54 on Tuesday. The stock has a 50-day moving average price of $52.03 and a 200-day moving average price of $46.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. The firm has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a 1 year low of $34.64 and a 1 year high of $54.07.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SUM shares. StockNews.com started coverage on shares of Summit Materials in a report on Monday. They issued a “sell” rating on the stock. 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 report on Monday, November 25th. Loop Capital reiterated a “hold” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th. 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 report on Tuesday, November 26th. Finally, Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and cut their price target for the company from $58.00 to $52.50 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.54.

Insider Transactions at Summit Materials

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 value of $78,197.76. Following the completion of the transaction, the insider now owns 40,221 shares of the company’s stock, valued at $2,047,651.11. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by 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.