Strengthening Families & Communities LLC Has $2 Million Holdings in Summit Materials, Inc. (NYSE:SUM)

Strengthening Families & Communities LLC cut its holdings in Summit Materials, Inc. (NYSE:SUM) by 7.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,595 shares of the construction company’s stock after selling 3,307 shares during the period. Summit Materials makes up approximately 1.1% of Strengthening Families & Communities LLC’s investment portfolio, making the stock its 29th largest position. Strengthening Families & Communities LLC’s holdings in Summit Materials were worth $2,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Empowered Funds LLC acquired a new position in shares of Summit Materials in the fourth quarter valued at about $25,000. Alliance Wealth Advisors LLC UT grew its stake in shares of Summit Materials by 3.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 18,263 shares of the construction company’s stock valued at $924,000 after acquiring an additional 611 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Summit Materials in the fourth quarter valued at about $4,680,000. Hunter Associates Investment Management LLC grew its stake in shares of Summit Materials by 1.0% in the fourth quarter. Hunter Associates Investment Management LLC now owns 77,709 shares of the construction company’s stock valued at $3,932,000 after acquiring an additional 746 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Summit Materials in the fourth quarter valued at about $57,000.

Insider Activity

In other 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 of the company’s stock, valued at $2,047,651.11. This represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.

Summit Materials Stock Up 0.2 %

SUM stock opened at $52.53 on Tuesday. The firm has a 50-day moving average price of $51.45 and a 200-day moving average price of $45.13. Summit Materials, Inc. has a 12 month low of $34.64 and a 12 month high of $54.07. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $9.22 billion, a P/E ratio of 64.07 and a beta of 1.13.

Wall Street Analyst Weigh In

SUM has been the subject of several recent analyst reports. Truist Financial reaffirmed a “hold” rating and set a $52.50 price objective (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Wolfe Research reaffirmed a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. StockNews.com initiated coverage on shares of Summit Materials in a research report on Friday. They set a “sell” rating for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research report on Monday, November 25th. Finally, Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and cut their price objective for the stock from $58.00 to $52.50 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $50.54.

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.