20,463 Shares in Summit Materials, Inc. (NYSE:SUM) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new stake in shares of Summit Materials, Inc. (NYSE:SUM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 20,463 shares of the construction company’s stock, valued at approximately $799,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hood River Capital Management LLC purchased a new position in shares of Summit Materials in the 1st quarter valued at $33,206,000. River Road Asset Management LLC raised its position in Summit Materials by 15.9% in the third quarter. River Road Asset Management LLC now owns 3,567,938 shares of the construction company’s stock valued at $139,257,000 after purchasing an additional 488,688 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Summit Materials by 6.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,210,736 shares of the construction company’s stock worth $263,985,000 after purchasing an additional 448,922 shares in the last quarter. Interval Partners LP purchased a new stake in shares of Summit Materials in the first quarter worth about $18,051,000. Finally, Millennium Management LLC boosted its position in shares of Summit Materials by 16.9% in the second quarter. Millennium Management LLC now owns 2,753,816 shares of the construction company’s stock worth $100,817,000 after buying an additional 399,072 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SUM shares. Truist Financial boosted their price target on Summit Materials from $47.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group reduced their target price on shares of Summit Materials from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Citigroup lowered their price target on shares of Summit Materials from $47.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. StockNews.com upgraded shares of Summit Materials from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Stephens reaffirmed an “overweight” rating and set a $47.00 target price on shares of Summit Materials in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Summit Materials has a consensus rating of “Moderate Buy” and a consensus price target of $50.38.

Summit Materials Price Performance

Shares of NYSE:SUM opened at $48.43 on Friday. The company has a market cap of $8.50 billion, a PE ratio of 59.06 and a beta of 1.14. Summit Materials, Inc. has a fifty-two week low of $33.70 and a fifty-two week high of $51.74. The firm has a 50-day simple moving average of $41.74 and a 200 day simple moving average of $39.62. 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 (NYSE:SUM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 49.9% on a year-over-year basis. On average, sell-side analysts anticipate that Summit Materials, Inc. will post 1.64 EPS for the current year.

Summit Materials Company Profile

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.