Summit Materials, Inc. (NYSE:SUM) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC decreased its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,250 shares of the construction company’s stock after selling 498 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Summit Materials were worth $670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SUM. Massachusetts Financial Services Co. MA increased its stake in shares of Summit Materials by 6.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,639,798 shares of the construction company’s stock valued at $298,181,000 after purchasing an additional 429,062 shares during the period. Principal Financial Group Inc. boosted its holdings in Summit Materials by 1.8% during the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock worth $206,445,000 after buying an additional 94,694 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Summit Materials by 0.3% during the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock worth $108,885,000 after buying an additional 9,566 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Summit Materials by 21.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock valued at $68,419,000 after buying an additional 313,957 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its position in shares of Summit Materials by 6.5% in the third quarter. Segall Bryant & Hamill LLC now owns 1,547,312 shares of the construction company’s stock worth $60,392,000 after purchasing an additional 94,177 shares in the last quarter.

Summit Materials Price Performance

Shares of NYSE SUM opened at $52.54 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials, Inc. has a fifty-two week low of $34.64 and a fifty-two week high of $54.07. The stock has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The business has a fifty day moving average price of $52.26 and a two-hundred day moving average price of $47.22.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. 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. StockNews.com began coverage on Summit Materials in a research report on Tuesday. They set a “sell” rating for the company. Loop Capital reiterated a “hold” rating and set a $52.50 price target (down from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $52.50 target price (down from $54.00) on shares of Summit Materials in a research note on Monday, November 25th. Finally, Citigroup restated a “neutral” rating and issued a $52.50 target price (down from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.