10,000 Shares in Summit Materials, Inc. (NYSE:SUM) Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, HoldingsChannel.com reports. The firm bought 10,000 shares of the construction company’s stock, valued at approximately $506,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SUM. Empowered Funds LLC acquired a new stake in Summit Materials during the 4th quarter worth about $25,000. Versant Capital Management Inc raised its holdings 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 valued at $28,000 after acquiring an additional 353 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Summit Materials in the 3rd quarter valued at approximately $28,000. R Squared Ltd acquired a new position in Summit Materials in the 4th quarter worth approximately $57,000. Finally, Point72 Hong Kong Ltd purchased a new position in Summit Materials during the 3rd quarter worth approximately $53,000.

Summit Materials Price Performance

Shares of NYSE:SUM opened at $52.54 on Tuesday. The stock has a market capitalization of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The business has a 50-day moving average of $52.39 and a two-hundred day moving average of $47.58. Summit Materials, Inc. has a fifty-two week low of $34.64 and a fifty-two week high of $54.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SUM. Citigroup reiterated a “neutral” rating and set a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a report on Tuesday, November 26th. Jefferies Financial Group downgraded Summit Materials from a “buy” rating to a “hold” rating and dropped their target price for the company from $58.00 to $52.50 in a report on Monday, December 16th. Truist Financial restated a “hold” rating and set a $52.50 price target (down from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $52.50 target price (up previously from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. Finally, StockNews.com initiated coverage on shares of Summit Materials in a research note on Tuesday, March 11th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.67.

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.