Hunter Associates Investment Management LLC Grows Position in Summit Materials, Inc. (NYSE:SUM)

Hunter Associates Investment Management LLC grew its stake in Summit Materials, Inc. (NYSE:SUM) by 1.0% during the 4th quarter, Holdings Channel reports. The fund owned 77,709 shares of the construction company’s stock after acquiring an additional 746 shares during the period. Hunter Associates Investment Management LLC’s holdings in Summit Materials were worth $3,932,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after purchasing an additional 353 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Summit Materials during the third quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Summit Materials in the 3rd quarter valued at $28,000. Toth Financial Advisory Corp grew its stake in shares of Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock valued at $33,000 after buying an additional 500 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Summit Materials by 3,804.2% during the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after buying an additional 913 shares during the last quarter.

Summit Materials Stock Performance

Shares of SUM stock opened at $52.39 on Friday. The business has a 50 day simple moving average of $51.27 and a 200 day simple moving average of $44.44. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 63.88 and a beta of 1.14. Summit Materials, Inc. has a 12-month low of $34.64 and a 12-month high of $53.49.

Summit Materials (NYSE:SUM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.17 billion. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The company’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. On average, equities research analysts anticipate that Summit Materials, Inc. will post 1.66 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of Summit Materials from a “buy” rating to a “hold” rating and lowered their price objective for the company from $58.00 to $52.50 in a research report on Monday, December 16th. Citigroup restated a “neutral” rating and set a $52.50 price objective (down from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. StockNews.com began coverage on shares of Summit Materials in a report on Thursday. They issued a “sell” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $52.50 target price (down from $54.00) on shares of Summit Materials in a report on Monday, November 25th. Finally, Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Summit Materials presently has an average rating of “Hold” and an average target price of $50.54.

Insiders Place Their Bets

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was 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 of the company’s stock, valued at approximately $2,047,651.11. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by insiders.

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.