Slotnik Capital LLC Purchases New Stake in Summit Materials, Inc. (NYSE:SUM)

Slotnik Capital LLC acquired a new position in shares of Summit Materials, Inc. (NYSE:SUM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 330,000 shares of the construction company’s stock, valued at approximately $16,698,000. Summit Materials makes up approximately 7.6% of Slotnik Capital LLC’s holdings, making the stock its 6th largest position. Slotnik Capital LLC owned approximately 0.19% of Summit Materials at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Citigroup Inc. boosted its position in Summit Materials by 166.4% in the third quarter. Citigroup Inc. now owns 113,579 shares of the construction company’s stock valued at $4,433,000 after buying an additional 70,937 shares in the last quarter. D.A. Davidson & CO. grew its position in Summit Materials by 11.5% during the 3rd quarter. D.A. Davidson & CO. now owns 9,115 shares of the construction company’s stock worth $356,000 after acquiring an additional 941 shares during the last quarter. FMR LLC grew its position in Summit Materials by 18.4% during the 3rd quarter. FMR LLC now owns 47,283 shares of the construction company’s stock worth $1,845,000 after acquiring an additional 7,350 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Summit Materials by 9.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,731 shares of the construction company’s stock worth $1,199,000 after purchasing an additional 2,625 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Summit Materials by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 287,733 shares of the construction company’s stock valued at $11,230,000 after purchasing an additional 10,463 shares during the last quarter.

Summit Materials Stock Up 0.2 %

Summit Materials stock opened at $52.54 on Thursday. Summit Materials, Inc. has a 12 month low of $34.64 and a 12 month high of $54.07. The stock has a fifty day simple moving average of $52.49 and a two-hundred day simple moving average of $48.78. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62.

Analyst Ratings Changes

A number of brokerages have recently commented on SUM. Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Jefferies Financial Group downgraded Summit Materials from a “buy” rating to a “hold” rating and cut their target price for the stock from $58.00 to $52.50 in a report on Monday, December 16th. Finally, StockNews.com assumed coverage on Summit Materials in a research note on Thursday, March 27th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Summit Materials presently has an average rating of “Hold” and a consensus target price of $50.67.

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.