Summit Materials, Inc. (NYSE:SUM) Shares Purchased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC lifted its stake in Summit Materials, Inc. (NYSE:SUM) by 23.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,917 shares of the construction company’s stock after purchasing an additional 3,000 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Summit Materials were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in shares of Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after purchasing an additional 353 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Summit Materials by 6.3% in the third quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock valued at $270,000 after purchasing an additional 411 shares during the last quarter. Xponance Inc. increased its holdings in shares of Summit Materials by 6.2% in the second quarter. Xponance Inc. now owns 7,687 shares of the construction company’s stock valued at $281,000 after purchasing an additional 448 shares during the last quarter. Toth Financial Advisory Corp increased 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 last quarter. Finally, KBC Group NV increased its holdings in shares of Summit Materials by 19.8% in the third quarter. KBC Group NV now owns 3,807 shares of the construction company’s stock valued at $149,000 after purchasing an additional 629 shares during the last quarter.

Summit Materials Stock Up 0.0 %

Summit Materials stock opened at $52.22 on Monday. Summit Materials, Inc. has a 1-year low of $34.64 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. The stock has a market cap of $9.17 billion, a PE ratio of 63.68 and a beta of 1.14. The stock’s fifty day moving average is $51.04 and its two-hundred day moving average is $44.14.

Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, October 30th. The construction company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s revenue was up 49.9% compared to the same quarter last year. On average, sell-side analysts expect that Summit Materials, Inc. will post 1.66 EPS for the current fiscal year.

Insider Transactions at Summit Materials

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SUM shares. Longbow Research reiterated a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Citigroup reiterated a “neutral” rating and issued a $52.50 price objective (down from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. StockNews.com started coverage on Summit Materials in a research report on Wednesday, January 22nd. They issued a “sell” rating for the company. Jefferies Financial Group lowered 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 report on Monday, December 16th. Finally, Barclays upgraded Summit Materials from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $45.00 to $52.00 in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Summit Materials has an average rating of “Hold” and an average target price of $50.54.

Summit Materials Company Profile

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.