Handelsbanken Fonder AB Has $936,000 Holdings in Summit Materials, Inc. (NYSE:SUM)

Handelsbanken Fonder AB boosted its position in Summit Materials, Inc. (NYSE:SUM) by 12.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,500 shares of the construction company’s stock after purchasing an additional 2,000 shares during the period. Handelsbanken Fonder AB’s holdings in Summit Materials were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SUM. Empowered Funds LLC bought a new position in shares of Summit Materials during the 4th quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Summit Materials in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc lifted its stake in Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after purchasing an additional 353 shares in the last quarter. International Assets Investment Management LLC lifted its stake in 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 worth $37,000 after purchasing an additional 913 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Summit Materials by 275.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock worth $51,000 after purchasing an additional 951 shares in the last quarter.

Insider Activity

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total value of $78,197.76. Following the sale, the insider now owns 40,221 shares in the company, valued at approximately $2,047,651.11. This trade represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Summit Materials Trading Up 0.2 %

NYSE:SUM opened at $52.54 on Friday. The company’s 50 day moving average price is $51.95 and its 200-day moving average price is $46.34. Summit Materials, Inc. has a 52 week low of $34.64 and a 52 week high of $54.07. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SUM shares. Truist Financial reaffirmed a “hold” rating and set a $52.50 price objective (down from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $52.50 price objective (up previously from $43.00) on shares of Summit Materials in a research report on Monday, November 25th. Loop Capital restated a “hold” rating and issued a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Wolfe Research reiterated a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and reduced their price target for the company from $58.00 to $52.50 in a research report on Monday, December 16th. One research 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. According to data from MarketBeat, Summit Materials presently has a consensus rating of “Hold” and a consensus 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.