Summit Materials, Inc. (NYSE:SUM) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC grew its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 35.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,070 shares of the construction company’s stock after purchasing an additional 7,282 shares during the period. Natixis Advisors LLC’s holdings in Summit Materials were worth $1,096,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Silvercrest Asset Management Group LLC increased its position in Summit Materials by 38.9% in the first quarter. Silvercrest Asset Management Group LLC now owns 147,375 shares of the construction company’s stock worth $6,569,000 after buying an additional 41,281 shares during the period. Bayesian Capital Management LP acquired a new position in Summit Materials during the 1st quarter valued at about $726,000. Comerica Bank grew its position in Summit Materials by 215.3% in the 1st quarter. Comerica Bank now owns 91,053 shares of the construction company’s stock worth $4,058,000 after purchasing an additional 62,173 shares during the last quarter. American Trust increased its stake in shares of Summit Materials by 8.6% in the first quarter. American Trust now owns 7,026 shares of the construction company’s stock valued at $313,000 after purchasing an additional 557 shares during the period. Finally, First Hawaiian Bank increased its stake in shares of Summit Materials by 4.8% in the second quarter. First Hawaiian Bank now owns 16,815 shares of the construction company’s stock valued at $616,000 after purchasing an additional 768 shares during the period.

Analyst Ratings Changes

SUM has been the subject of a number of recent analyst reports. Loop Capital reissued a “hold” rating and issued a $52.50 price objective (down from $54.00) on shares of Summit Materials in a report on Tuesday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a research report on Monday. Jefferies Financial Group lowered their price target on Summit Materials from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Summit Materials in a report on Tuesday. Finally, Barclays upgraded shares of Summit Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $45.00 to $52.00 in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.81.

Summit Materials Stock Performance

Shares of SUM opened at $50.85 on Wednesday. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 62.01 and a beta of 1.14. The company’s fifty day moving average is $43.52 and its 200-day moving average is $40.11. 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 12 month low of $34.38 and a 12 month high of $53.49.

Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.17 billion. During the same period in the previous year, the company earned $0.81 EPS. The company’s revenue for the quarter was up 49.9% on a year-over-year basis. Equities analysts expect that Summit Materials, Inc. will post 1.64 EPS for the current fiscal 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.