Vanguard Personalized Indexing Management LLC Acquires 1,619 Shares of Summit Materials, Inc. (NYSE:SUM)

Vanguard Personalized Indexing Management LLC increased its holdings in Summit Materials, Inc. (NYSE:SUM) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,053 shares of the construction company’s stock after buying an additional 1,619 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Summit Materials were worth $656,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SUM. Massachusetts Financial Services Co. MA boosted its stake in Summit Materials by 130.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,512,959 shares of the construction company’s stock valued at $171,674,000 after buying an additional 3,122,575 shares during the period. River Road Asset Management LLC increased its position in shares of Summit Materials by 172.9% in the third quarter. River Road Asset Management LLC now owns 1,617,490 shares of the construction company’s stock worth $50,369,000 after purchasing an additional 1,024,888 shares during the last quarter. FMR LLC raised its stake in Summit Materials by 22.6% in the third quarter. FMR LLC now owns 3,880,931 shares of the construction company’s stock valued at $120,852,000 after purchasing an additional 714,379 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Summit Materials during the third quarter valued at approximately $9,221,000. Finally, Hsbc Holdings PLC grew its stake in Summit Materials by 496.4% in the 3rd quarter. Hsbc Holdings PLC now owns 268,515 shares of the construction company’s stock worth $8,406,000 after buying an additional 223,489 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SUM shares. Stephens lifted their price objective on shares of Summit Materials from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. StockNews.com downgraded Summit Materials from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Citigroup increased their price target on shares of Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada upped their price objective on shares of Summit Materials from $44.00 to $46.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. started coverage on shares of Summit Materials in a research report on Friday, February 23rd. They issued an “overweight” rating and a $47.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.92.

Summit Materials Stock Down 1.8 %

Shares of NYSE:SUM opened at $39.39 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.93 and a current ratio of 2.58. Summit Materials, Inc. has a 52-week low of $29.98 and a 52-week high of $44.89. The firm has a market capitalization of $6.91 billion, a P/E ratio of 17.58 and a beta of 1.34. The stock has a 50 day moving average price of $41.05 and a 200-day moving average price of $38.80.

Summit Materials (NYSE:SUM) last announced its earnings results on Wednesday, May 1st. The construction company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. Summit Materials had a net margin of 8.36% and a return on equity of 7.33%. The firm had revenue of $773.23 million for the quarter, compared to analysts’ expectations of $803.98 million. During the same quarter in the previous year, the business posted ($0.26) EPS. The company’s quarterly revenue was up 89.9% on a year-over-year basis. As a group, equities research analysts anticipate that Summit Materials, Inc. will post 2.17 EPS for the current fiscal year.

Insider Buying and Selling at Summit Materials

In other news, insider Jason Kilgore sold 50,589 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $40.21, for a total value of $2,034,183.69. Following the sale, the insider now directly owns 60,630 shares of the company’s stock, valued at approximately $2,437,932.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

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.