Moody Aldrich Partners LLC Has $10.09 Million Stake in Summit Materials, Inc. (NYSE:SUM)

Moody Aldrich Partners LLC raised its stake in shares of Summit Materials, Inc. (NYSE:SUMGet Rating) by 12.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 324,852 shares of the construction company’s stock after purchasing an additional 36,625 shares during the period. Summit Materials accounts for approximately 1.4% of Moody Aldrich Partners LLC’s investment portfolio, making the stock its 25th biggest position. Moody Aldrich Partners LLC’s holdings in Summit Materials were worth $10,090,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SUM. Principal Financial Group Inc. raised its position in shares of Summit Materials by 16.0% in the 1st quarter. Principal Financial Group Inc. now owns 6,577,408 shares of the construction company’s stock worth $204,295,000 after acquiring an additional 905,585 shares in the last quarter. Capital International Investors raised its position in shares of Summit Materials by 59.6% in the 4th quarter. Capital International Investors now owns 6,384,589 shares of the construction company’s stock worth $256,277,000 after acquiring an additional 2,383,606 shares in the last quarter. Invesco Ltd. raised its position in shares of Summit Materials by 2.0% in the 4th quarter. Invesco Ltd. now owns 2,681,807 shares of the construction company’s stock worth $107,649,000 after acquiring an additional 53,011 shares in the last quarter. State Street Corp raised its position in shares of Summit Materials by 1.4% in the 4th quarter. State Street Corp now owns 2,295,416 shares of the construction company’s stock worth $92,138,000 after acquiring an additional 31,192 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Summit Materials by 8.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,189,364 shares of the construction company’s stock worth $87,881,000 after acquiring an additional 174,322 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TheStreet upgraded Summit Materials from a “c+” rating to a “b” rating in a research note on Wednesday, August 10th. Wolfe Research reduced their target price on Summit Materials from $41.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, July 14th. The Goldman Sachs Group reduced their target price on Summit Materials from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, June 23rd. Citigroup raised their target price on Summit Materials to $35.00 in a research note on Monday. Finally, Morgan Stanley raised their target price on Summit Materials from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, August 8th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.29.

Summit Materials Stock Down 2.0 %

SUM stock traded down $0.64 during mid-day trading on Wednesday, reaching $31.30. 12,890 shares of the company traded hands, compared to its average volume of 560,883. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 13.60 and a beta of 1.37. The company has a quick ratio of 2.54, a current ratio of 3.17 and a debt-to-equity ratio of 0.78. Summit Materials, Inc. has a fifty-two week low of $21.99 and a fifty-two week high of $41.46. The firm’s 50 day moving average price is $25.85 and its 200 day moving average price is $28.62.

Summit Materials Profile

(Get Rating)

Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, and residential and nonresidential end markets. It operates through three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.

Further Reading

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Institutional Ownership by Quarter for Summit Materials (NYSE:SUM)

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