Summit Materials, Inc. (NYSE:SUM) Shares Bought by Citigroup Inc.

Citigroup Inc. increased its position in shares of Summit Materials, Inc. (NYSE:SUM) by 166.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,579 shares of the construction company’s stock after acquiring an additional 70,937 shares during the quarter. Citigroup Inc. owned 0.06% of Summit Materials worth $4,433,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in Summit Materials in the third quarter worth approximately $27,000. Toth Financial Advisory Corp boosted its holdings in shares of Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after buying an additional 500 shares during the period. International Assets Investment Management LLC grew its position in Summit Materials by 3,804.2% in the 3rd 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. Quest Partners LLC acquired a new stake in Summit Materials in the 2nd quarter worth $40,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Summit Materials by 275.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock worth $51,000 after acquiring an additional 951 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SUM shares. Jefferies Financial Group lowered their price target on shares of Summit Materials from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Barclays raised shares of Summit Materials from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $45.00 to $52.00 in a research report on Tuesday, October 29th. Stephens reiterated an “overweight” rating and issued a $47.00 price objective on shares of Summit Materials in a report on Tuesday, August 6th. Morgan Stanley started coverage on shares of Summit Materials in a research note on Monday, August 26th. They set an “overweight” rating and a $51.00 price objective on the stock. Finally, Wolfe Research reissued a “peer perform” rating on shares of Summit Materials in a report on Tuesday, November 26th. One 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’s stock. Based on data from MarketBeat.com, Summit Materials has an average rating of “Hold” and an average target price of $50.81.

Summit Materials Trading Down 0.4 %

Summit Materials stock opened at $50.74 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials, Inc. has a one year low of $34.38 and a one year high of $53.49. The stock has a market capitalization of $8.91 billion, a PE ratio of 61.88 and a beta of 1.14. The business’s fifty day moving average is $44.69 and its 200 day moving average is $40.47.

Summit Materials (NYSE:SUM) last issued its earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.17 billion. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The firm’s quarterly revenue was up 49.9% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. On average, sell-side analysts predict 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.