Principal Securities Inc. Sells 1,507 Shares of Summit Materials, Inc. (NYSE:SUM)

Principal Securities Inc. lessened its holdings in Summit Materials, Inc. (NYSE:SUM) by 43.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,922 shares of the construction company’s stock after selling 1,507 shares during the quarter. Principal Securities Inc.’s holdings in Summit Materials were worth $97,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in shares of Summit Materials in the 4th quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Summit Materials in the 3rd quarter valued at $28,000. Versant Capital Management Inc boosted its stake in shares of Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after purchasing an additional 353 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Summit Materials by 3,804.2% in the 3rd 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 in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Summit Materials by 275.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock valued at $51,000 after purchasing an additional 951 shares in the last quarter.

Summit Materials Stock Performance

Summit Materials stock opened at $52.54 on Thursday. 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 1 year low of $34.64 and a 1 year high of $54.07. The company has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company’s 50-day moving average is $51.91 and its two-hundred day moving average is $46.30.

Analyst Ratings Changes

SUM has been the topic of several recent analyst reports. DA Davidson boosted their target price on shares of Summit Materials from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Citigroup reiterated a “neutral” rating and set a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Stephens downgraded shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. StockNews.com started coverage on shares of Summit Materials in a research report on Sunday. They set a “sell” rating on the stock. Finally, Truist Financial reiterated a “hold” rating and set a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.54.

Insider Activity

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the company’s 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 directly owns 40,221 shares of the company’s stock, valued at $2,047,651.11. This represents a 3.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.55% of the stock is currently owned by company insiders.

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.