John G Ullman & Associates Inc. Sells 1,301 Shares of Summit Materials, Inc. (NYSE:SUM)

John G Ullman & Associates Inc. trimmed its stake in Summit Materials, Inc. (NYSE:SUM) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,873 shares of the construction company’s stock after selling 1,301 shares during the quarter. John G Ullman & Associates Inc. owned approximately 0.06% of Summit Materials worth $4,249,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in shares of Summit Materials during the 3rd quarter worth about $27,000. Toth Financial Advisory Corp increased its position in Summit Materials by 147.1% during the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after buying an additional 500 shares during the last quarter. International Assets Investment Management LLC raised its stake in Summit Materials by 3,804.2% in the third 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. Quest Partners LLC acquired a new stake in shares of Summit Materials in the second quarter valued at approximately $40,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Summit Materials by 275.7% in the third quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock valued at $51,000 after buying an additional 951 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley initiated coverage on Summit Materials in a research note on Monday, August 26th. They issued an “overweight” rating and a $51.00 price target on the stock. Stephens reiterated an “overweight” rating and issued a $47.00 price objective on shares of Summit Materials in a report on Tuesday, August 6th. DA Davidson raised their target price on shares of Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lifted their target price on shares of Summit Materials from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Summit Materials from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Summit Materials presently has a consensus rating of “Moderate Buy” and an average target price of $50.38.

Summit Materials Stock Performance

NYSE:SUM opened at $48.41 on Thursday. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 59.04 and a beta of 1.14. Summit Materials, Inc. has a fifty-two week low of $33.93 and a fifty-two week high of $51.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The stock has a fifty day moving average price of $42.49 and a 200-day moving average price of $39.81.

Summit Materials (NYSE:SUM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. Summit Materials’s revenue was up 49.9% compared to the same quarter last year. As a group, equities analysts anticipate that Summit Materials, Inc. will post 1.64 EPS for the current fiscal year.

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.