Summit Materials, Inc. (NYSE:SUM) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lowered its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,250 shares of the construction company’s stock after selling 498 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Summit Materials were worth $670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SUM. Massachusetts Financial Services Co. MA increased its position in shares of Summit Materials by 6.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,639,798 shares of the construction company’s stock valued at $298,181,000 after buying an additional 429,062 shares in the last quarter. Principal Financial Group Inc. raised its position in Summit Materials by 1.8% during the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock worth $206,445,000 after acquiring an additional 94,694 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Summit Materials by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock valued at $108,885,000 after purchasing an additional 9,566 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Summit Materials by 21.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock worth $68,419,000 after purchasing an additional 313,957 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in shares of Summit Materials by 6.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,547,312 shares of the construction company’s stock worth $60,392,000 after purchasing an additional 94,177 shares during the last quarter.

Summit Materials Stock Performance

Summit Materials stock opened at $52.54 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. The firm’s fifty day moving average price is $52.26 and its 200 day moving average price is $47.22. The company 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 12-month low of $34.64 and a 12-month high of $54.07.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. 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. Longbow Research restated a “neutral” rating on shares of Summit Materials in a report on Tuesday, November 26th. Wolfe Research reiterated a “peer perform” rating on shares of Summit Materials in a report on Tuesday, November 26th. Loop Capital restated a “hold” rating and set a $52.50 target price (down previously from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and lowered their target price for the stock from $58.00 to $52.50 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.54.

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.