Wall Street Zen started coverage on shares of Summit Materials (NYSE:SUM – Free Report) in a research report report published on Thursday morning. The brokerage issued a sell rating on the construction company’s stock.
Summit Materials Stock Up 0.2%
Shares of NYSE:SUM opened at $52.54 on Thursday. Summit Materials has a 52 week low of $34.64 and a 52 week high of $54.07. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The company has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company has a 50 day moving average price of $52.54 and a two-hundred day moving average price of $51.85.
Institutional Investors Weigh In On Summit Materials
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Summit Materials by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,373,001 shares of the construction company’s stock valued at $626,074,000 after purchasing an additional 56,602 shares in the last quarter. Janus Henderson Group PLC increased its stake in Summit Materials by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,096,383 shares of the construction company’s stock valued at $156,682,000 after purchasing an additional 324,902 shares in the last quarter. TIG Advisors LLC bought a new stake in shares of Summit Materials during the fourth quarter worth $105,181,000. FIL Ltd bought a new stake in shares of Summit Materials during the fourth quarter worth $95,128,000. Finally, JPMorgan Chase & Co. increased its position in shares of Summit Materials by 293.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,863,463 shares of the construction company’s stock worth $94,291,000 after acquiring an additional 1,389,955 shares in the last quarter.
Summit Materials Company Profile
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.
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