Summit Materials, Inc. (NYSE:SUM) Shares Sold by Choreo LLC

Choreo LLC lowered its position in Summit Materials, Inc. (NYSE:SUM) by 10.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,535 shares of the construction company’s stock after selling 1,114 shares during the quarter. Choreo LLC’s holdings in Summit Materials were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Summit Materials in the 4th quarter worth approximately $704,000. Franklin Resources Inc. acquired a new position in Summit Materials during the 3rd quarter worth $7,359,000. Principal Financial Group Inc. grew its stake in shares of Summit Materials by 1.8% in the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock worth $206,445,000 after purchasing an additional 94,694 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Summit Materials by 1,436.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock valued at $44,501,000 after purchasing an additional 822,222 shares during the period. Finally, Ausbil Investment Management Ltd raised its stake in shares of Summit Materials by 355.8% during the third quarter. Ausbil Investment Management Ltd now owns 23,963 shares of the construction company’s stock valued at $935,000 after purchasing an additional 18,706 shares in the last quarter.

Insider Buying and Selling at Summit Materials

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total transaction of $78,197.76. Following the sale, the insider now directly owns 40,221 shares of the company’s stock, valued at $2,047,651.11. The trade was a 3.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.

Summit Materials Trading Up 0.2 %

NYSE:SUM opened at $52.54 on Wednesday. The stock has a fifty day simple moving average of $51.48 and a 200 day simple moving average of $45.22. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a 1-year low of $34.64 and a 1-year high of $54.07. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup reissued a “neutral” rating and set a $52.50 target price (down previously from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research note on Monday, November 25th. Loop Capital restated a “hold” rating and issued a $52.50 target price (down from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. StockNews.com began coverage on Summit Materials in a research report on Friday, February 7th. They set a “sell” rating on the stock. Finally, DA Davidson upped their price objective on Summit Materials from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company 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.