NBW Capital LLC Decreases Stock Holdings in Summit Materials, Inc. (NYSE:SUM)

NBW Capital LLC decreased its holdings in Summit Materials, Inc. (NYSE:SUM) by 6.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 51,074 shares of the construction company’s stock after selling 3,271 shares during the period. NBW Capital LLC’s holdings in Summit Materials were worth $2,584,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SUM. Empowered Funds LLC purchased a new position in Summit Materials in the 4th quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Summit Materials in the 3rd quarter worth about $28,000. Versant Capital Management Inc raised its position in Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after buying an additional 353 shares during the last quarter. International Assets Investment Management LLC raised its position in Summit Materials by 3,804.2% in the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after buying an additional 913 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Summit Materials by 275.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock valued at $51,000 after purchasing an additional 951 shares during the period.

Insider Activity at Summit Materials

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total value of $78,197.76. Following the completion of the transaction, the insider now directly owns 40,221 shares in the company, valued at $2,047,651.11. This represents a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Summit Materials Trading Up 0.2 %

Shares of NYSE:SUM opened at $52.54 on Tuesday. The stock has a 50 day moving average of $52.03 and a 200 day moving average of $46.65. The company has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. Summit Materials, Inc. has a 12-month low of $34.64 and a 12-month high of $54.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SUM shares. Citigroup restated a “neutral” rating and set a $52.50 price target (down from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. StockNews.com started coverage on Summit Materials in a research note on Monday. They set a “sell” rating for the company. Royal Bank of Canada restated a “sector perform” rating and set a $52.50 price target (down from $54.00) on shares of Summit Materials in a research note on Monday, November 25th. Truist Financial restated a “hold” rating and set a $52.50 price target (down from $60.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Finally, Longbow Research restated a “neutral” rating on shares of Summit Materials in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Summit Materials currently 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.