Summit Materials, Inc. (NYSE:SUM) Position Reduced by American Trust

American Trust lessened its stake in Summit Materials, Inc. (NYSE:SUM) by 11.3% during the third quarter, HoldingsChannel.com reports. The firm owned 7,390 shares of the construction company’s stock after selling 939 shares during the period. American Trust’s holdings in Summit Materials were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in Summit Materials during the third quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Summit Materials in the 3rd quarter worth about $28,000. Toth Financial Advisory Corp boosted its holdings 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 buying an additional 500 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Summit Materials by 3,804.2% in the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock valued at $37,000 after buying an additional 913 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Summit Materials during the 2nd quarter valued at about $40,000.

Summit Materials Stock Down 0.1 %

Summit Materials stock opened at $50.78 on Friday. The company’s 50-day moving average price is $46.73 and its two-hundred day moving average price is $41.09. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 61.93 and a beta of 1.14. Summit Materials, Inc. has a 52 week low of $34.38 and a 52 week high of $53.49. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62.

Summit Materials (NYSE:SUM) last announced its earnings results on Wednesday, October 30th. The construction company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The firm’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, 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 SUM shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $52.50 target price (up previously from $43.00) on shares of Summit Materials in a report on Monday, November 25th. Longbow Research reissued a “neutral” rating on shares of Summit Materials in a report on Tuesday, November 26th. Jefferies Financial Group lowered their price objective on Summit Materials from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Truist Financial reiterated a “hold” rating and issued a $52.50 target price (down from $60.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.81.

Insider Transactions at Summit Materials

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 shares were sold at an average price of $50.91, for a total value of $78,197.76. Following the sale, the insider now directly owns 40,221 shares in the company, 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 this link. Company insiders own 0.55% of the company’s stock.

Summit Materials Company 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.