2 weeks Ago By ABMN Staff
Renaissance Technologies LLC purchased a new position in shares of Summit Materials, Inc. ( NYSE:SUM – Free Report ) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 85,778 shares of the construction company’s stock, valued at approximately $4,340,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Summit Materials by 0.
5% in the 4th 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 during the last quarter.
Principal Financial Group Inc. increased its position in Summit Materials by 1.8% during the 3rd 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 period. FIL Ltd bought a new position in Summit Materials during the 4th quarter worth approximately $95,128,000.
JPMorgan Chase & Co. boosted its stake in shares of Summit Materials by 293.5% in the 4th quarter.
JPMorgan Chase & Co. now owns 1,863,463 shares of the construction company’s stock valued at $94,291,000 after purchasing an additional 1,389,955 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Summit Materials during the fourth quarter worth $79,094,000.
Analyst Ratings Changes Several equities research analysts recently commented on the company. StockNews.com started coverage on Summit Materials in a research note on Sunday.
They set a “sell” rating for the company. Stephens downgraded Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock.
Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.67.
Summit Materials Stock Up 0.2 % Shares of NYSE:SUM opened at $52.54 on Tuesday.
The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.
48. The company has a market capitalization of $9.23 billion, a PE ratio of 64.
07 and a beta of 1.13. The business has a fifty day moving average price of $52.
54 and a two-hundred day moving average price of $50.25. Summit Materials, Inc.
has a 1 year low of $34.64 and a 1 year high of $54.07.
Summit Materials Company Profile ( Free Report ) 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.
Featured Articles Want to see what other hedge funds are holding SUM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Summit Materials, Inc. ( NYSE:SUM – Free Report ).
Receive News & Ratings for Summit Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials and related companies with MarketBeat.com's FREE daily email newsletter ..
