Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,842 Shares of Summit Materials, Inc. (NYSE:SUM)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Summit Materials, Inc. (NYSE:SUM) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,516 shares of the construction company’s stock after acquiring an additional 1,842 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Summit Materials were worth $1,949,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position 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 acquiring an additional 429,062 shares during the period. Principal Financial Group Inc. raised its stake in Summit Materials by 1.8% in the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock valued at $206,445,000 after purchasing an additional 94,694 shares in the last quarter. Geode Capital Management LLC raised its stake in Summit Materials by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock valued at $108,885,000 after purchasing an additional 9,566 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Summit Materials by 21.8% in 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 purchasing an additional 313,957 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in 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 valued at $60,392,000 after purchasing an additional 94,177 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SUM shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $52.50 target price (up from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. Wolfe Research reaffirmed a “peer perform” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed 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. StockNews.com assumed coverage on shares of Summit Materials in a research note on Tuesday, March 11th. They set a “sell” rating on the stock. Finally, Longbow Research reissued a “neutral” rating 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, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.67.

Summit Materials Stock Up 0.2 %

Shares of NYSE SUM opened at $52.54 on Monday. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. Summit Materials, Inc. has a 52 week low of $34.64 and a 52 week high of $54.07. The firm’s fifty day moving average is $52.36 and its 200 day moving average is $47.49. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13.

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.