Summit Materials, Inc. (NYSE:SUM) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 52.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,798 shares of the construction company’s stock after selling 65,275 shares during the quarter. Russell Investments Group Ltd.’s holdings in Summit Materials were worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in shares of Summit Materials during the fourth quarter worth about $25,000. Versant Capital Management Inc raised its holdings in shares of Summit Materials by 179.2% during the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after buying an additional 353 shares during the period. CoreFirst Bank & Trust acquired a new position in Summit Materials during the 4th quarter worth approximately $56,000. R Squared Ltd purchased a new position in Summit Materials in the 4th quarter worth approximately $57,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Summit Materials in the 3rd quarter worth approximately $203,000.

Summit Materials Stock Up 0.2 %

Shares of Summit Materials stock opened at $52.54 on Friday. The business has a 50-day moving average price of $52.54 and a 200 day moving average price of $49.86. Summit Materials, Inc. has a fifty-two week low of $34.64 and a fifty-two week high of $54.07. The firm has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SUM shares. Stephens cut shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. StockNews.com assumed coverage on shares of Summit Materials in a report on Saturday, April 12th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.67.

About Summit Materials

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.