Barclays PLC Buys 31,637 Shares of Summit Materials, Inc. (NYSE:SUM)

Barclays PLC increased its position in Summit Materials, Inc. (NYSE:SUM) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,079 shares of the construction company’s stock after buying an additional 31,637 shares during the period. Barclays PLC’s holdings in Summit Materials were worth $12,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its position in shares of Summit Materials by 5.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,669 shares of the construction company’s stock valued at $641,000 after acquiring an additional 619 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Summit Materials by 1.6% in the 4th quarter. Synovus Financial Corp now owns 28,689 shares of the construction company’s stock worth $1,452,000 after buying an additional 445 shares in the last quarter. BTG Pactual Asset Management US LLC bought a new stake in shares of Summit Materials in the 4th quarter worth about $1,518,000. Townsquare Capital LLC raised its position in shares of Summit Materials by 7.4% during the 4th quarter. Townsquare Capital LLC now owns 79,439 shares of the construction company’s stock valued at $4,020,000 after buying an additional 5,453 shares in the last quarter. Finally, Water Island Capital LLC purchased a new position in Summit Materials in the fourth quarter worth about $19,475,000.

Summit Materials Price Performance

Shares of SUM stock opened at $52.54 on Tuesday. Summit Materials, Inc. has a twelve month low of $34.64 and a twelve 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 fifty day simple moving average of $52.54 and a two-hundred day simple moving average of $50.25. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SUM shares. StockNews.com initiated coverage on Summit Materials in a research report on Sunday. They set a “sell” rating on the stock. Stephens downgraded shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.67.

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.