AlphaQuest LLC Takes $724,000 Position in Summit Materials, Inc. (NYSE:SUM)

AlphaQuest LLC acquired a new stake in Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,318 shares of the construction company’s stock, valued at approximately $724,000.

Several other institutional investors have also modified their holdings of SUM. Empowered Funds LLC bought a new stake in shares of Summit Materials in the 4th quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Summit Materials during the 3rd quarter worth approximately $28,000. Versant Capital Management Inc lifted its stake in shares of Summit Materials by 179.2% during the 4th 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. Farther Finance Advisors LLC lifted its stake in shares of Summit Materials by 275.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock worth $51,000 after acquiring an additional 951 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Summit Materials during the 3rd quarter worth approximately $53,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $52.50 price target (down from $54.00) on shares of Summit Materials in a research note on Monday, November 25th. Citigroup reissued a “neutral” rating and set a $52.50 price target (down from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Longbow Research reissued a “neutral” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group lowered Summit Materials from a “buy” rating to a “hold” rating and decreased their price target for the stock from $58.00 to $52.50 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.54.

Summit Materials Trading Up 0.2 %

Shares of NYSE:SUM opened at $52.54 on Wednesday. Summit Materials, Inc. has a 12-month low of $34.64 and a 12-month high of $54.07. The business’s fifty day simple moving average is $52.26 and its 200-day simple moving average is $47.22. 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 current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62.

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.