Leuthold Group LLC Sells 4,207 Shares of Summit Materials, Inc. (NYSE:SUM)

Leuthold Group LLC decreased its position in shares of Summit Materials, Inc. (NYSE:SUM) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,175 shares of the construction company’s stock after selling 4,207 shares during the quarter. Leuthold Group LLC owned 0.06% of Summit Materials worth $4,417,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Johnson Investment Counsel Inc. lifted its holdings in shares of Summit Materials by 5.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,941 shares of the construction company’s stock worth $218,000 after acquiring an additional 327 shares during the period. Waycross Investment Management Co raised its position in Summit Materials by 1.0% during the second quarter. Waycross Investment Management Co now owns 41,076 shares of the construction company’s stock valued at $1,504,000 after purchasing an additional 412 shares in the last quarter. Xponance Inc. lifted its stake in Summit Materials by 6.2% during the second quarter. Xponance Inc. now owns 7,687 shares of the construction company’s stock worth $281,000 after purchasing an additional 448 shares during the last quarter. InterOcean Capital Group LLC boosted its holdings in shares of Summit Materials by 4.5% in the 1st quarter. InterOcean Capital Group LLC now owns 10,591 shares of the construction company’s stock valued at $472,000 after purchasing an additional 455 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its stake in shares of Summit Materials by 147.1% in the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock valued at $33,000 after purchasing an additional 500 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SUM shares. Royal Bank of Canada upgraded Summit Materials from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $45.00 to $53.00 in a research report on Friday. Stephens restated an “overweight” rating and issued a $47.00 price target on shares of Summit Materials in a research note on Tuesday, August 6th. Morgan Stanley assumed coverage on shares of Summit Materials in a report on Monday, August 26th. They set an “overweight” rating and a $51.00 price target on the stock. Jefferies Financial Group dropped their price objective on shares of Summit Materials from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Truist Financial decreased their target price on shares of Summit Materials from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.83.

Summit Materials Stock Up 4.2 %

Shares of NYSE:SUM opened at $45.10 on Monday. The firm has a market cap of $7.92 billion, a P/E ratio of 21.07 and a beta of 1.17. Summit Materials, Inc. has a 12-month low of $30.83 and a 12-month high of $46.20. The business has a fifty day simple moving average of $38.93 and a 200 day simple moving average of $38.71. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 0.64.

Summit Materials (NYSE:SUM) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Summit Materials had a return on equity of 7.00% and a net margin of 8.06%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $0.71 earnings per share. The firm’s revenue was up 58.1% compared to the same quarter last year. Analysts predict that Summit Materials, Inc. will post 1.63 earnings per share for the current year.

About Summit Materials

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.