Keybank National Association OH Sells 3,181 Shares of Summit Materials, Inc. (NYSE:SUM)

Keybank National Association OH lessened its holdings in Summit Materials, Inc. (NYSE:SUM) by 40.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,626 shares of the construction company’s stock after selling 3,181 shares during the quarter. Keybank National Association OH’s holdings in Summit Materials were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in shares of Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after purchasing an additional 353 shares during the last quarter. Assetmark Inc. grew its stake in Summit Materials by 6.3% in the 3rd quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock worth $270,000 after acquiring an additional 411 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Summit Materials during the fourth quarter worth approximately $25,000. Alliance Wealth Advisors LLC UT raised its stake in shares of Summit Materials by 3.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 18,263 shares of the construction company’s stock valued at $924,000 after acquiring an additional 611 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Summit Materials by 19.8% during the third quarter. KBC Group NV now owns 3,807 shares of the construction company’s stock valued at $149,000 after acquiring an additional 629 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SUM. Loop Capital restated a “hold” rating and set a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Longbow Research restated a “neutral” rating on shares of Summit Materials in a report on Tuesday, November 26th. Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and lowered their price target for the stock from $58.00 to $52.50 in a research report on Monday, December 16th. Citigroup reissued a “neutral” rating and set a $52.50 price objective (down from $55.00) on shares of Summit Materials in a report on Tuesday, November 26th. Finally, StockNews.com began coverage on Summit Materials in a report on Tuesday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.54.

Summit Materials Stock Performance

Shares of SUM stock opened at $52.54 on Wednesday. Summit Materials, Inc. has a 52-week low of $34.64 and a 52-week 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. The stock has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The business has a 50-day simple moving average of $52.26 and a 200-day simple moving average of $47.22.

Summit Materials 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.