Westover Capital Advisors LLC Sells 612 Shares of Summit Materials, Inc. (NYSE:SUM)

Westover Capital Advisors LLC lessened its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,602 shares of the construction company’s stock after selling 612 shares during the period. Westover Capital Advisors LLC’s holdings in Summit Materials were worth $2,307,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Summit Materials during the 4th quarter valued at about $704,000. Franklin Resources Inc. bought a new position in shares of Summit Materials during the 3rd quarter valued at about $7,359,000. Principal Financial Group Inc. lifted its holdings in shares of 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 in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Summit Materials by 1,436.3% during 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Summit Materials by 3.8% during the 3rd 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 purchasing an additional 10,463 shares in the last quarter.

Summit Materials Stock Up 0.2 %

SUM stock opened at $52.54 on Tuesday. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. The firm has a market capitalization 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. The business’s 50 day simple moving average is $52.03 and its 200 day simple moving average is $46.65.

Insider Buying and Selling

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total transaction of $78,197.76. Following the transaction, the insider now directly owns 40,221 shares of the company’s stock, valued at approximately $2,047,651.11. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SUM shares. Loop Capital restated a “hold” rating and issued a $52.50 target price (down previously from $54.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Jefferies Financial Group cut Summit Materials from a “buy” rating to a “hold” rating and cut their target price for the company from $58.00 to $52.50 in a research note on Monday, December 16th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $52.50 target price (up previously from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. Stephens cut Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, StockNews.com started coverage on Summit Materials in a research note on Monday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.