Summit Materials, Inc. (NYSE:SUM) Position Reduced by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. decreased its position in shares of Summit Materials, Inc. (NYSE:SUM) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,893 shares of the construction company’s stock after selling 5,526 shares during the period. John G Ullman & Associates Inc. owned 0.10% of Summit Materials worth $4,496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new position in shares of Summit Materials in the third quarter valued at $32,000. Benjamin Edwards Inc. increased its holdings in shares of Summit Materials by 81.3% in the second quarter. Benjamin Edwards Inc. now owns 939 shares of the construction company’s stock valued at $36,000 after buying an additional 421 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Summit Materials in the third quarter valued at $54,000. Register Financial Advisors LLC increased its holdings in shares of Summit Materials by 98.3% in the third quarter. Register Financial Advisors LLC now owns 2,017 shares of the construction company’s stock valued at $63,000 after buying an additional 1,000 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Summit Materials in the third quarter valued at $77,000.

Analyst Upgrades and Downgrades

SUM has been the topic of several research reports. Barclays upped their price target on Summit Materials from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Truist Financial lifted their price objective on shares of Summit Materials from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. began coverage on shares of Summit Materials in a research report on Friday, February 23rd. They set an “overweight” rating and a $47.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, Stephens reiterated an “overweight” rating and set a $45.00 price objective on shares of Summit Materials in a research report on Tuesday, February 13th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.09.

Summit Materials Stock Down 0.4 %

Shares of Summit Materials stock traded down $0.16 on Friday, hitting $38.31. 1,000,001 shares of the company traded hands, compared to its average volume of 970,962. The company has a market cap of $6.68 billion, a PE ratio of 16.16 and a beta of 1.32. Summit Materials, Inc. has a 12-month low of $26.18 and a 12-month high of $44.89. The company has a 50-day moving average price of $41.80 and a 200 day moving average price of $37.57. The company has a quick ratio of 4.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.99.

Summit Materials (NYSE:SUM) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $613.13 million during the quarter, compared to analysts’ expectations of $560.90 million. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. Summit Materials’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. Sell-side analysts predict that Summit Materials, Inc. will post 2.28 earnings per share for the current year.

Summit Materials Company Profile

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.