Atria Investments Inc Cuts Stock Position in Summit Materials, Inc. (NYSE:SUM)

Atria Investments Inc trimmed its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 23.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,319 shares of the construction company’s stock after selling 1,636 shares during the period. Atria Investments Inc’s holdings in Summit Materials were worth $269,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its stake 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 worth $298,181,000 after acquiring an additional 429,062 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Summit Materials by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock valued at $206,445,000 after purchasing an additional 94,694 shares in the last quarter. Geode Capital Management LLC boosted its stake in Summit Materials by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock worth $108,885,000 after purchasing an additional 9,566 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Summit Materials by 21.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock worth $68,419,000 after buying 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% in the third quarter. Segall Bryant & Hamill LLC now owns 1,547,312 shares of the construction company’s stock valued at $60,392,000 after buying an additional 94,177 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SUM. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $52.50 target price (up from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. Truist Financial reiterated a “hold” rating and set a $52.50 price objective (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. StockNews.com started coverage on Summit Materials in a report on Tuesday, March 11th. They issued a “sell” rating for the company. Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. 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, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.67.

Summit Materials Price Performance

Summit Materials stock opened at $52.54 on Tuesday. The company has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a one year low of $34.64 and a one year high of $54.07. The business has a fifty day moving average of $52.39 and a two-hundred day moving average of $47.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10.

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.