Barclays PLC Grows Stake in Summit Materials, Inc. (NYSE:SUM)

Barclays PLC boosted its position in shares of Summit Materials, Inc. (NYSE:SUM) by 222.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 211,442 shares of the construction company’s stock after purchasing an additional 145,858 shares during the quarter. Barclays PLC owned approximately 0.12% of Summit Materials worth $8,252,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Summit Materials in the 3rd quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Summit Materials in the third quarter valued at about $28,000. Toth Financial Advisory Corp grew its position 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. International Assets Investment Management LLC grew its position in shares of 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 valued at $37,000 after purchasing an additional 913 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Summit Materials during the 2nd quarter worth approximately $40,000.

Insider Activity at Summit Materials

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total value 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by insiders.

Summit Materials Stock Up 0.1 %

SUM opened at $50.79 on Wednesday. Summit Materials, Inc. has a 1 year low of $34.38 and a 1 year high of $53.49. The firm has a 50 day moving average price of $47.29 and a 200 day moving average price of $41.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The company has a market cap of $8.92 billion, a PE ratio of 61.94 and a beta of 1.14.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SUM shares. Wolfe Research reiterated a “peer perform” rating on shares of Summit Materials in a report on Tuesday, November 26th. DA Davidson lifted their price objective on Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Longbow Research restated a “neutral” rating on shares of Summit Materials in a report on Tuesday, November 26th. Morgan Stanley initiated coverage on shares of Summit Materials in a report on Monday, August 26th. They set an “overweight” rating and a $51.00 price target for the company. Finally, Jefferies Financial Group downgraded shares of Summit Materials from a “buy” rating to a “hold” rating and reduced their price objective for the company from $58.00 to $52.50 in a research note on Monday. One investment 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, Summit Materials currently has a consensus rating of “Hold” and a consensus price target of $50.54.

Summit Materials 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.