11,709 Shares in Summit Materials, Inc. (NYSE:SUM) Acquired by World Investment Advisors LLC

World Investment Advisors LLC purchased a new position in Summit Materials, Inc. (NYSE:SUM) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 11,709 shares of the construction company’s stock, valued at approximately $457,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Summit Materials in the third quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Summit Materials in the third quarter worth $28,000. Toth Financial Advisory Corp grew its holdings in Summit Materials by 147.1% in the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter. International Assets Investment Management LLC grew its holdings 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 worth $37,000 after purchasing an additional 913 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Summit Materials in the second quarter worth $40,000.

Insiders Place Their Bets

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total transaction of $78,197.76. Following the completion of the transaction, the insider now owns 40,221 shares in the company, valued at $2,047,651.11. This represents a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.55% of the company’s stock.

Summit Materials Trading Up 0.1 %

NYSE SUM opened at $50.79 on Wednesday. The company has a market capitalization of $8.92 billion, a PE ratio of 61.94 and a beta of 1.14. The company has a fifty day moving average of $47.29 and a 200 day moving average of $41.29. Summit Materials, Inc. has a 1 year low of $34.38 and a 1 year high of $53.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48.

Summit Materials (NYSE:SUM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.17 billion. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The company’s revenue was up 49.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Research analysts forecast that Summit Materials, Inc. will post 1.66 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on SUM shares. Truist Financial reaffirmed a “hold” rating and issued a $52.50 price target (down from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. Wolfe Research reissued a “peer perform” rating on shares of Summit Materials in a report on Tuesday, November 26th. Citigroup reissued a “neutral” rating and set a $52.50 price objective (down from $55.00) on shares of Summit Materials in a report on Tuesday, November 26th. Loop Capital reissued a “hold” rating and set a $52.50 price objective (down from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th. Finally, Longbow Research reissued a “neutral” rating on shares of Summit Materials in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.54.

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.