182,800 Shares in Summit Materials, Inc. (NYSE:SUM) Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL bought a new position in shares of Summit Materials, Inc. (NYSE:SUM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 182,800 shares of the construction company’s stock, valued at approximately $9,250,000. Gamco Investors INC. ET AL owned approximately 0.10% of Summit Materials as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Summit Materials by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,373,001 shares of the construction company’s stock worth $626,074,000 after acquiring an additional 56,602 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Summit Materials by 1.8% during the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock valued at $206,445,000 after purchasing an additional 94,694 shares during the last quarter. Geode Capital Management LLC increased its stake in Summit Materials by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock worth $108,885,000 after purchasing an additional 9,566 shares in the last quarter. FIL Ltd acquired a new stake in Summit Materials during the 4th quarter worth about $95,128,000. Finally, JPMorgan Chase & Co. lifted its stake in Summit Materials by 293.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,863,463 shares of the construction company’s stock valued at $94,291,000 after buying an additional 1,389,955 shares in the last quarter.

Summit Materials Trading Up 0.2 %

NYSE:SUM opened at $52.54 on Thursday. The company has a market capitalization of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The stock’s 50 day moving average price is $52.54 and its 200 day moving average price is $49.76. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. Summit Materials, Inc. has a 52 week low of $34.64 and a 52 week high of $54.07.

Wall Street Analysts Forecast Growth

SUM has been the topic of a number of recent analyst reports. Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. StockNews.com initiated coverage on Summit Materials in a report on Saturday, April 12th. They issued a “sell” rating for the company. 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.com, the stock presently has a consensus rating of “Hold” and a consensus 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.