Swiss National Bank Has $12.23 Million Holdings in Summit Materials, Inc. (NYSE:SUM)

Swiss National Bank grew its stake in Summit Materials, Inc. (NYSE:SUM) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,715 shares of the construction company’s stock after buying an additional 1,800 shares during the quarter. Swiss National Bank owned 0.14% of Summit Materials worth $12,231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in shares of Summit Materials in the fourth quarter valued at about $25,000. Versant Capital Management Inc boosted its position in Summit Materials by 179.2% during the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after acquiring an additional 353 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Summit Materials during the 3rd quarter worth approximately $28,000. R Squared Ltd bought a new position in shares of Summit Materials during the 4th quarter worth approximately $57,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Summit Materials in the third quarter valued at approximately $53,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SUM shares. Loop Capital reiterated a “hold” rating and issued a $52.50 price target (down from $54.00) on shares of Summit Materials in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $52.50 target price (up previously from $43.00) on shares of Summit Materials in a report on Monday, November 25th. Longbow Research restated a “neutral” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Truist Financial reissued a “hold” rating and issued a $52.50 price objective (down previously from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $52.50 target price (down from $54.00) on shares of Summit Materials in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.67.

Summit Materials Trading Up 0.2 %

Shares of SUM stock opened at $52.54 on Thursday. Summit Materials, Inc. has a 12-month low of $34.64 and a 12-month high of $54.07. The company has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The firm has a 50 day moving average price of $52.41 and a two-hundred day moving average price of $47.70. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62.

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.