Strategic Advocates LLC Sells 214 Shares of Summit Materials, Inc. (NYSE:SUM)

Strategic Advocates LLC trimmed its position in shares of Summit Materials, Inc. (NYSE:SUM) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,294 shares of the construction company’s stock after selling 214 shares during the quarter. Strategic Advocates LLC’s holdings in Summit Materials were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stephens downgraded shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research note on Monday, November 25th. Barclays upgraded Summit Materials from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $52.00 in a report on Tuesday, October 29th. Loop Capital restated a “hold” rating and set a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Finally, StockNews.com initiated coverage on shares of Summit Materials in a research note on Thursday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.54.

Insiders Place Their Bets

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the stock in a transaction 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 $2,047,651.11. This represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Summit Materials Price Performance

Shares of SUM opened at $52.39 on Friday. The company has a 50 day moving average of $51.27 and a two-hundred day moving average of $44.44. 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 twelve month low of $34.64 and a twelve month high of $53.49. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 63.88 and a beta of 1.14.

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 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 firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 49.9% on a year-over-year basis. As a group, analysts predict that Summit Materials, Inc. will post 1.66 earnings per share for the current fiscal year.

Summit Materials Company 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.