New York Life Investment Management LLC decreased its holdings in Summit Materials, Inc. (NYSE:SUM – Free Report) by 13.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 12,477 shares of the construction company’s stock after selling 1,989 shares during the period. New York Life Investment Management LLC’s holdings in Summit Materials were worth $389,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. BluePath Capital Management LLC purchased a new position in Summit Materials in the third quarter valued at approximately $32,000. Benjamin Edwards Inc. raised its holdings in Summit Materials by 81.3% in the second quarter. Benjamin Edwards Inc. now owns 939 shares of the construction company’s stock valued at $36,000 after buying an additional 421 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Summit Materials by 37.0% during the second quarter. Pinebridge Investments L.P. now owns 1,015 shares of the construction company’s stock valued at $38,000 after purchasing an additional 274 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Summit Materials by 162.3% during the second quarter. Quadrant Capital Group LLC now owns 1,453 shares of the construction company’s stock valued at $55,000 after purchasing an additional 899 shares during the period. Finally, Register Financial Advisors LLC raised its stake in shares of Summit Materials by 98.3% during the third quarter. Register Financial Advisors LLC now owns 2,017 shares of the construction company’s stock valued at $63,000 after purchasing an additional 1,000 shares during the period.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on SUM shares. Royal Bank of Canada lowered shares of Summit Materials from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $43.00 to $38.00 in a research note on Friday, January 12th. Seaport Res Ptn upgraded shares of Summit Materials from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 24th. Finally, Stephens reiterated an “overweight” rating and set a $45.00 price objective on shares of Summit Materials in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.30.
Summit Materials Stock Down 0.2 %
SUM stock opened at $37.66 on Friday. Summit Materials, Inc. has a twelve month low of $25.43 and a twelve month high of $39.56. The company has a current ratio of 2.51, a quick ratio of 1.82 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $4.50 billion, a P/E ratio of 14.43 and a beta of 1.30. The firm has a 50 day simple moving average of $37.07 and a 200-day simple moving average of $35.32.
Summit Materials Company Profile
Summit Materials, Inc operates as a vertically integrated construction materials company. 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. It also provides asphalt paving and related services.
- Five stocks we like better than Summit Materials
- What is a Secondary Public Offering? What Investors Need to Know
- MarketBeat Week in Review – 2/5 – 2/9
- How Investors Can Find the Best Cheap Dividend Stocks
- Cloudflare results spark analysts reset: 25% upside ahead
- What is MarketRank™? How to Use it
- Beyond Nvidia: The hidden stars with 200% earnings growth
Receive News & Ratings for Summit Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials and related companies with MarketBeat.com's FREE daily email newsletter.