11,333 Shares in Summit Materials, Inc. (NYSE:SUM) Purchased by Cibc World Markets Corp

Cibc World Markets Corp acquired a new position in Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,333 shares of the construction company’s stock, valued at approximately $573,000.

Other institutional investors have also bought and sold shares of the company. Empowered Funds LLC acquired a new stake in Summit Materials in the fourth quarter worth about $25,000. Versant Capital Management Inc lifted its holdings in Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after purchasing an additional 353 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Summit Materials in the third quarter worth about $28,000. R Squared Ltd acquired a new stake in Summit Materials in the fourth quarter worth about $57,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Summit Materials in the third quarter worth about $53,000.

Summit Materials Price Performance

SUM stock opened at $52.54 on Friday. 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, Inc. has a one year low of $34.64 and a one year high of $54.07. The firm has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The firm has a 50-day moving average of $52.43 and a two-hundred day moving average of $47.89.

Analysts Set New Price Targets

SUM has been the subject of several research analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Summit Materials in a report on Tuesday, November 26th. Truist Financial restated a “hold” rating and set a $52.50 price objective (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Loop Capital restated a “hold” rating and set a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Jefferies Financial Group lowered shares of Summit Materials from a “buy” rating to a “hold” rating and reduced their price objective for the company from $58.00 to $52.50 in a research report on Monday, December 16th. 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 research report on Monday, November 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.67.

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.