Congress Wealth Management LLC DE lowered its position in shares of Summit Materials, Inc. (NYSE:SUM – Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,437 shares of the construction company’s stock after selling 7,235 shares during the period. Congress Wealth Management LLC DE’s holdings in Summit Materials were worth $8,488,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in SUM. Signaturefd LLC raised its stake in shares of Summit Materials by 110.3% during the fourth quarter. Signaturefd LLC now owns 654 shares of the construction company’s stock valued at $25,000 after purchasing an additional 343 shares during the period. Parallel Advisors LLC grew its position in shares of Summit Materials by 113.7% during the fourth quarter. Parallel Advisors LLC now owns 750 shares of the construction company’s stock worth $29,000 after buying an additional 399 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Summit Materials during the first quarter worth approximately $45,000. Quadrant Capital Group LLC grew its position in shares of Summit Materials by 25.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,902 shares of the construction company’s stock worth $73,000 after buying an additional 382 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its position in shares of Summit Materials by 45,250.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,721 shares of the construction company’s stock worth $105,000 after buying an additional 2,715 shares in the last quarter.
Summit Materials Stock Performance
Shares of NYSE SUM traded down $0.98 during midday trading on Monday, reaching $35.63. 1,079,951 shares of the company traded hands, compared to its average volume of 972,570. Summit Materials, Inc. has a 52 week low of $29.98 and a 52 week high of $44.89. The stock has a 50-day moving average price of $38.61 and a 200 day moving average price of $39.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.58 and a quick ratio of 1.93. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 15.91 and a beta of 1.15.
Insider Activity at Summit Materials
In other Summit Materials news, insider Jason Kilgore sold 50,589 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were 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 in the company, valued at $2,437,932.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SUM. Stephens raised their price target on shares of Summit Materials from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. The Goldman Sachs Group lifted their price objective on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Truist Financial lifted their price objective on shares of Summit Materials from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Wolfe Research raised shares of Summit Materials from a “peer perform” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Wednesday, May 15th. Finally, Citigroup boosted their price target on shares of Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, April 5th. One 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.92.
View Our Latest Research Report on SUM
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.
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