5,429 Shares in Summit Materials, Inc. (NYSE:SUM) Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. bought a new position in Summit Materials, Inc. (NYSE:SUM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,429 shares of the construction company’s stock, valued at approximately $203,000.

Several other institutional investors have also recently added to or reduced their stakes in SUM. V Square Quantitative Management LLC acquired a new stake in shares of Summit Materials in the 3rd quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Summit Materials in the third quarter valued at approximately $28,000. Toth Financial Advisory Corp increased its holdings in shares of Summit Materials by 147.1% during the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Summit Materials by 3,804.2% during the third quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after purchasing an additional 913 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Summit Materials in the 2nd quarter worth $40,000.

Analysts Set New Price Targets

A number of analysts have commented on SUM shares. Barclays upgraded shares of Summit Materials from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $52.00 in a research note on Tuesday, October 29th. Wolfe Research reissued a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Truist Financial reaffirmed a “hold” rating and issued a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $52.50 price objective (up from $43.00) on shares of Summit Materials in a report on Monday, November 25th. Finally, DA Davidson raised their target price on Summit Materials from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.54.

Insider Activity at Summit Materials

In related 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 value of $78,197.76. Following the completion of the sale, the insider now owns 40,221 shares of the company’s stock, valued at approximately $2,047,651.11. This trade represents a 3.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is owned by company insiders.

Summit Materials Trading Up 0.3 %

Shares of Summit Materials stock opened at $50.50 on Monday. The stock has a fifty day moving average price of $48.02 and a 200-day moving average price of $41.55. 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 firm has a market cap of $8.87 billion, a PE ratio of 61.59 and a beta of 1.14. Summit Materials, Inc. has a 1 year low of $34.38 and a 1 year high of $53.49.

Summit Materials (NYSE:SUM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 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 business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 49.9% on a year-over-year basis. Equities research analysts anticipate that Summit Materials, Inc. will post 1.66 EPS for the current year.

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.