Aristotle Capital Boston LLC Has $49.42 Million Holdings in Summit Materials, Inc. (NYSE:SUM)

Aristotle Capital Boston LLC lowered its holdings in Summit Materials, Inc. (NYSE:SUM) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 976,737 shares of the construction company’s stock after selling 106,493 shares during the quarter. Summit Materials accounts for about 1.8% of Aristotle Capital Boston LLC’s investment portfolio, making the stock its 9th biggest position. Aristotle Capital Boston LLC owned about 0.56% of Summit Materials worth $49,423,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mariner LLC raised its holdings in shares of Summit Materials by 2.3% in the fourth quarter. Mariner LLC now owns 8,641 shares of the construction company’s stock valued at $437,000 after buying an additional 196 shares during the last quarter. Arizona State Retirement System increased its position in Summit Materials by 0.9% in the 4th quarter. Arizona State Retirement System now owns 35,671 shares of the construction company’s stock valued at $1,805,000 after acquiring an additional 304 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Summit Materials by 179.2% in the fourth 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. Synovus Financial Corp lifted its position in shares of Summit Materials by 1.6% during the fourth quarter. Synovus Financial Corp now owns 28,689 shares of the construction company’s stock worth $1,452,000 after purchasing an additional 445 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Summit Materials during the fourth quarter valued at approximately $25,000.

Summit Materials Stock Performance

Shares of SUM stock opened at $52.54 on Friday. The stock has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The stock has a 50-day moving average of $52.54 and a 200-day moving average of $50.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials, Inc. has a one year low of $34.64 and a one year high of $54.07.

Wall Street Analyst Weigh In

SUM has been the subject of several research analyst reports. Stephens cut shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. StockNews.com initiated coverage on Summit Materials in a research report on Monday, April 28th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, 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.