Rockefeller Capital Management L.P. Takes $1.08 Million Position in Summit Materials, Inc. (NYSE:SUM)

Rockefeller Capital Management L.P. acquired a new position in Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,388 shares of the construction company’s stock, valued at approximately $1,082,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its stake in shares of Summit Materials by 0.9% during the 4th quarter. Arizona State Retirement System now owns 35,671 shares of the construction company’s stock valued at $1,805,000 after buying an additional 304 shares in the last quarter. Versant Capital Management Inc boosted 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 worth $28,000 after acquiring an additional 353 shares during the period. Empowered Funds LLC purchased a new position in shares of Summit Materials in the fourth quarter valued at $25,000. Alliance Wealth Advisors LLC UT raised its stake in shares of Summit Materials by 3.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 18,263 shares of the construction company’s stock valued at $924,000 after purchasing an additional 611 shares during the period. Finally, Hunter Associates Investment Management LLC lifted its holdings in Summit Materials by 1.0% during the 4th quarter. Hunter Associates Investment Management LLC now owns 77,709 shares of the construction company’s stock worth $3,932,000 after purchasing an additional 746 shares in the last quarter.

Summit Materials Price Performance

Shares of Summit Materials stock opened at $52.54 on Tuesday. The firm has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. Summit Materials, Inc. has a 12 month low of $34.64 and a 12 month high of $54.07. The business’s 50-day moving average price is $52.54 and its 200-day moving average price is $50.25.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SUM shares. Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. StockNews.com initiated coverage on Summit Materials in a research report on Sunday. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Summit Materials presently has an average rating of “Hold” and an average price target of $50.67.

Summit Materials 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.