Summit Materials, Inc. (NYSE:SUM) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC grew its position in shares of Summit Materials, Inc. (NYSE:SUM) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,439 shares of the construction company’s stock after acquiring an additional 5,453 shares during the quarter. Townsquare Capital LLC’s holdings in Summit Materials were worth $4,020,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its position in Summit Materials by 18.4% during the 3rd quarter. FMR LLC now owns 47,283 shares of the construction company’s stock worth $1,845,000 after acquiring an additional 7,350 shares in the last quarter. Barclays PLC lifted its position in shares of Summit Materials by 222.4% during the third quarter. Barclays PLC now owns 211,442 shares of the construction company’s stock worth $8,252,000 after purchasing an additional 145,858 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Summit Materials by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock valued at $108,885,000 after purchasing an additional 9,566 shares during the period. Sanctuary Advisors LLC grew its holdings in Summit Materials by 50.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,402 shares of the construction company’s stock valued at $991,000 after purchasing an additional 8,559 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in Summit Materials during the 3rd quarter worth $457,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SUM shares. Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and cut their price target for the company from $58.00 to $52.50 in a report on Monday, December 16th. Finally, StockNews.com assumed coverage on shares of Summit Materials in a research note on Saturday. They set a “sell” rating on the stock. 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. Based on data from MarketBeat, Summit Materials currently has an average rating of “Hold” and a consensus price target of $50.67.

Summit Materials Trading Up 0.2 %

Summit Materials stock opened at $52.54 on Tuesday. The business has a 50 day moving average price of $52.54 and a two-hundred day moving average price of $49.73. The company has a quick ratio of 2.48, a current ratio of 3.10 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. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13.

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.