Segall Bryant & Hamill LLC Has $77.07 Million Stake in Summit Materials, Inc. (NYSE:SUM)

Segall Bryant & Hamill LLC reduced its position in Summit Materials, Inc. (NYSE:SUM) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,523,066 shares of the construction company’s stock after selling 24,246 shares during the period. Summit Materials accounts for about 1.1% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 7th largest position. Segall Bryant & Hamill LLC owned approximately 0.87% of Summit Materials worth $77,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC purchased a new stake in Summit Materials in the fourth quarter valued at about $25,000. Versant Capital Management Inc increased its holdings in shares of Summit Materials by 179.2% during the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after acquiring an additional 353 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Summit Materials in the 3rd quarter valued at approximately $28,000. CoreFirst Bank & Trust acquired a new stake in Summit Materials in the 4th quarter worth approximately $56,000. Finally, R Squared Ltd purchased a new stake in Summit Materials during the 4th quarter worth approximately $57,000.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SUM. Citigroup reiterated a “neutral” rating and set a $52.50 price objective (down from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a research report on Monday, November 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.50 price objective (down from $54.00) on shares of Summit Materials in a report on Monday, November 25th. Wolfe Research restated a “peer perform” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Finally, Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $50.67.

Summit Materials Stock Performance

SUM opened at $52.54 on Tuesday. The firm has a fifty day moving average price of $52.44 and a 200 day moving average price of $48.08. Summit Materials, Inc. has a 1 year low of $34.64 and a 1 year high of $54.07. The stock has a market cap of $9.23 billion, a P/E 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.

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.