Summit Materials, Inc. (NYSE:SUM) Shares Sold by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. decreased its holdings in Summit Materials, Inc. (NYSE:SUM) by 5.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,251 shares of the construction company’s stock after selling 5,622 shares during the quarter. John G Ullman & Associates Inc. owned 0.06% of Summit Materials worth $5,225,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Versant Capital Management Inc raised 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 worth $28,000 after purchasing an additional 353 shares during the period. Assetmark Inc. increased its stake in Summit Materials by 6.3% during the 3rd quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock worth $270,000 after buying an additional 411 shares in the last quarter. Empowered Funds LLC purchased a new stake in Summit Materials during the 4th quarter worth approximately $25,000. Alliance Wealth Advisors LLC UT increased its stake in Summit Materials by 3.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 18,263 shares of the construction company’s stock worth $924,000 after buying an additional 611 shares in the last quarter. Finally, KBC Group NV increased its stake in Summit Materials by 19.8% during the 3rd quarter. KBC Group NV now owns 3,807 shares of the construction company’s stock worth $149,000 after buying an additional 629 shares in the last quarter.

Insider Activity

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the 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 directly owns 40,221 shares in the company, valued at approximately $2,047,651.11. This trade represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

Summit Materials Stock Up 0.2 %

Shares of NYSE SUM opened at $52.54 on Friday. The stock has a market cap of $9.23 billion, a P/E 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. Summit Materials, Inc. has a 12-month low of $34.64 and a 12-month high of $54.07. The business’s fifty day simple moving average is $51.99 and its 200-day simple moving average is $46.50.

Wall Street Analysts Forecast Growth

Several research firms have commented on SUM. Citigroup reiterated 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. Royal Bank of Canada restated a “sector perform” rating and issued a $52.50 price target (down from $54.00) on shares of Summit Materials in a research report on Monday, November 25th. StockNews.com initiated coverage on Summit Materials in a research report on Sunday, February 23rd. They issued a “sell” rating for the company. Loop Capital restated a “hold” rating and issued a $52.50 price target (down from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group lowered Summit Materials from a “buy” rating to a “hold” rating and dropped their price target for the company from $58.00 to $52.50 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.54.

About Summit Materials

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.