Mount Yale Investment Advisors LLC Decreases Stock Holdings in Summit Materials, Inc. (NYSE:SUM)

Mount Yale Investment Advisors LLC decreased its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 13.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,255 shares of the construction company’s stock after selling 1,006 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Summit Materials were worth $279,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Summit Materials in the fourth quarter worth approximately $743,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Summit Materials by 14.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,841 shares of the construction company’s stock worth $840,000 after buying an additional 2,809 shares in the last quarter. Harvey Capital Management Inc. bought a new position in shares of Summit Materials in the fourth quarter worth approximately $1,167,000. Strs Ohio lifted its stake in shares of Summit Materials by 11.8% in the fourth quarter. Strs Ohio now owns 11,400 shares of the construction company’s stock worth $438,000 after buying an additional 1,200 shares in the last quarter. Finally, Capital Analysts LLC lifted its stake in shares of Summit Materials by 1.2% in the fourth quarter. Capital Analysts LLC now owns 66,933 shares of the construction company’s stock worth $2,574,000 after buying an additional 799 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SUM shares. Citigroup dropped their target price on shares of Summit Materials from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Royal Bank of Canada boosted their price objective on shares of Summit Materials from $44.00 to $46.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. Truist Financial boosted their price objective on shares of Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Stifel Nicolaus decreased their price objective on shares of Summit Materials from $55.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Wolfe Research raised shares of Summit Materials from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.40.

Insider Buying and Selling at Summit Materials

In other Summit Materials news, insider Jason Kilgore sold 50,589 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $40.21, for a total transaction of $2,034,183.69. Following the completion of the transaction, the insider now owns 60,630 shares in the company, valued at $2,437,932.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by company insiders.

Summit Materials Price Performance

Shares of NYSE:SUM traded up $0.03 during midday trading on Monday, reaching $40.14. 583,055 shares of the company were exchanged, compared to its average volume of 975,691. The company has a current ratio of 2.58, a quick ratio of 1.93 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average is $37.77 and its two-hundred day moving average is $39.29. Summit Materials, Inc. has a one year low of $29.98 and a one year high of $44.89. The stock has a market cap of $7.04 billion, a PE ratio of 17.91 and a beta of 1.15.

Summit Materials (NYSE:SUM) last released its quarterly earnings data on Wednesday, May 1st. The construction company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.11. Summit Materials had a net margin of 8.36% and a return on equity of 7.33%. The business had revenue of $773.23 million during the quarter, compared to analyst estimates of $803.98 million. During the same quarter last year, the business earned ($0.26) earnings per share. Summit Materials’s quarterly revenue was up 89.9% compared to the same quarter last year. As a group, analysts predict that Summit Materials, Inc. will post 1.82 earnings per share for the current 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.