Summit Materials, Inc. (NYSE:SUM) Shares Acquired by Xponance Inc.

Xponance Inc. increased its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 9.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,679 shares of the construction company’s stock after purchasing an additional 758 shares during the quarter. Xponance Inc.’s holdings in Summit Materials were worth $439,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC purchased a new stake in Summit Materials during the fourth quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Summit Materials during the 3rd quarter valued at $28,000. Versant Capital Management Inc boosted its position in Summit Materials by 179.2% during the 4th 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 Hong Kong Ltd acquired a new stake in Summit Materials in the 3rd quarter valued at $53,000. Finally, R Squared Ltd purchased a new position in Summit Materials in the fourth quarter valued at about $57,000.

Summit Materials Stock Performance

Shares of Summit Materials stock opened at $52.54 on Thursday. 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. The firm’s 50-day simple moving average is $52.45 and its 200-day simple moving average is $48.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SUM. Jefferies Financial Group lowered Summit Materials from a “buy” rating to a “hold” rating and lowered their target price for the company from $58.00 to $52.50 in a research note on Monday, December 16th. StockNews.com assumed coverage on shares of Summit Materials in a research report on Thursday. They issued a “sell” rating for the company. Finally, Stephens cut shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.67.

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.