Moody Aldrich Partners LLC Grows Stake in Summit Materials, Inc. (NYSE:SUM)

Moody Aldrich Partners LLC grew its stake in Summit Materials, Inc. (NYSE:SUM) by 15.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,710 shares of the construction company’s stock after purchasing an additional 17,580 shares during the period. Summit Materials makes up about 1.2% of Moody Aldrich Partners LLC’s portfolio, making the stock its 23rd biggest position. Moody Aldrich Partners LLC’s holdings in Summit Materials were worth $6,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Versant Capital Management Inc lifted its position in shares of Summit Materials by 179.2% during 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 last quarter. Assetmark Inc. increased its position in shares of Summit Materials by 6.3% during the third quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock worth $270,000 after acquiring an additional 411 shares during the period. Xponance Inc. raised its stake in shares of Summit Materials by 6.2% during the second quarter. Xponance Inc. now owns 7,687 shares of the construction company’s stock valued at $281,000 after acquiring an additional 448 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in shares of Summit Materials by 147.1% in the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock valued at $33,000 after purchasing an additional 500 shares during the period. Finally, KBC Group NV grew its stake in Summit Materials by 19.8% in the third quarter. KBC Group NV now owns 3,807 shares of the construction company’s stock worth $149,000 after purchasing an additional 629 shares in the last quarter.

Insider Activity

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total value of $78,197.76. Following the sale, the insider now directly owns 40,221 shares in the company, valued at approximately $2,047,651.11. The trade was a 3.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

Summit Materials Price Performance

NYSE:SUM opened at $52.30 on Wednesday. The firm has a market cap of $9.18 billion, a P/E ratio of 63.77 and a beta of 1.14. The stock has a 50 day moving average of $51.11 and a two-hundred day moving average of $44.29. Summit Materials, Inc. has a 12 month low of $34.64 and a 12 month high of $53.49. 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 (NYSE:SUM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.17 billion. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The firm’s revenue for the quarter was up 49.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. On average, analysts expect that Summit Materials, Inc. will post 1.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on SUM. Truist Financial reissued a “hold” rating and issued a $52.50 price target (down from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Stephens cut Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Wolfe Research reiterated a “peer perform” rating on shares of Summit Materials in a research note on Tuesday, November 26th. JPMorgan Chase & Co. restated a “neutral” rating and set a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. Finally, Jefferies Financial Group downgraded shares of Summit Materials from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $58.00 to $52.50 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.54.

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.