Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes $1.52 Million Position in Summit Materials, Inc. (NYSE:SUM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 30,000 shares of the construction company’s stock, valued at approximately $1,518,000.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in shares of Summit Materials by 0.9% in the 4th quarter. Arizona State Retirement System now owns 35,671 shares of the construction company’s stock worth $1,805,000 after acquiring an additional 304 shares during the period. Versant Capital Management Inc lifted its position in 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 period. Empowered Funds LLC acquired a new stake in Summit Materials during the fourth quarter worth $25,000. Alliance Wealth Advisors LLC UT increased its holdings in Summit Materials by 3.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 18,263 shares of the construction company’s stock valued at $924,000 after buying an additional 611 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Summit Materials in the 3rd quarter valued at $28,000.

Summit Materials Stock Performance

SUM stock opened at $52.54 on Wednesday. The stock has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. 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 company has a 50 day moving average price of $52.45 and a 200 day moving average price of $48.19. Summit Materials, Inc. has a fifty-two week low of $34.64 and a fifty-two week high of $54.07.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SUM shares. Jefferies Financial Group lowered shares of Summit Materials from a “buy” rating to a “hold” rating and decreased their target price for the company from $58.00 to $52.50 in a research report on Monday, December 16th. Truist Financial reiterated a “hold” rating and issued a $52.50 price objective (down from $60.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Stephens downgraded Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Citigroup reiterated a “neutral” rating and issued a $52.50 price target (down from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. 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 given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.67.

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.