SG Americas Securities LLC Cuts Position in Summit Materials, Inc. (NYSE:SUM)

SG Americas Securities LLC decreased its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 53.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,560 shares of the construction company’s stock after selling 7,669 shares during the period. SG Americas Securities LLC’s holdings in Summit Materials were worth $332,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its position in Summit Materials by 2,256.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 192,319 shares of the construction company’s stock valued at $9,731,000 after buying an additional 184,158 shares in the last quarter. Diversify Wealth Management LLC grew its stake in shares of Summit Materials by 47.3% in the fourth quarter. Diversify Wealth Management LLC now owns 14,972 shares of the construction company’s stock worth $779,000 after acquiring an additional 4,808 shares during the last quarter. Value Holdings Management CO. LLC increased its holdings in shares of Summit Materials by 90.0% during the fourth quarter. Value Holdings Management CO. LLC now owns 19,000 shares of the construction company’s stock valued at $962,000 after acquiring an additional 9,000 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Summit Materials in the 4th quarter worth about $704,000. Finally, Assenagon Asset Management S.A. boosted its stake in Summit Materials by 1,436.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock worth $44,501,000 after purchasing an additional 822,222 shares in the last quarter.

Summit Materials Trading Up 0.1 %

Summit Materials stock opened at $52.37 on Wednesday. Summit Materials, Inc. has a 52-week low of $34.64 and a 52-week high of $53.49. The company has a market cap of $9.20 billion, a P/E ratio of 63.86 and a beta of 1.13. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $51.34 and a two-hundred day simple moving average of $44.74.

Insider Buying and Selling

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the firm’s 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 transaction, the insider now directly owns 40,221 shares of the company’s stock, valued at approximately $2,047,651.11. This trade represents a 3.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SUM has been the subject of a number of analyst reports. DA Davidson raised their price objective on shares of Summit Materials from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Truist Financial reissued a “hold” rating and set a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Citigroup reaffirmed a “neutral” rating and issued a $52.50 price objective (down from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Barclays upgraded 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 note on Tuesday, October 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Summit Materials presently has a consensus rating of “Hold” and a consensus target price of $50.54.

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.