Summit Materials, Inc. (NYSE:SUM) is Segall Bryant & Hamill LLC’s 7th Largest Position

Segall Bryant & Hamill LLC decreased its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,523,066 shares of the construction company’s stock after selling 24,246 shares during the period. Summit Materials comprises approximately 1.1% of Segall Bryant & Hamill LLC’s investment portfolio, making the stock its 7th largest holding. Segall Bryant & Hamill LLC’s holdings in Summit Materials were worth $77,067,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SUM. Empowered Funds LLC acquired a new position in Summit Materials during the fourth quarter worth $25,000. Versant Capital Management Inc raised its position 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 purchasing an additional 353 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Summit Materials in the 3rd quarter valued at about $28,000. CoreFirst Bank & Trust acquired a new stake in Summit Materials in the 4th quarter worth about $56,000. Finally, R Squared Ltd purchased a new stake in Summit Materials during the 4th quarter worth approximately $57,000.

Analyst Ratings Changes

A number of brokerages have weighed in on SUM. Royal Bank of Canada restated a “sector perform” rating and issued a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a report on Monday, November 25th. Truist Financial reissued a “hold” rating and issued a $52.50 price target (down from $60.00) on shares of Summit Materials in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $52.50 price objective (up previously from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. StockNews.com assumed coverage on shares of Summit Materials in a research note on Wednesday, March 19th. They issued a “sell” rating on the stock. Finally, Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.67.

Summit Materials Trading Up 0.2 %

Shares of Summit Materials stock opened at $52.54 on Tuesday. Summit Materials, Inc. has a fifty-two week low of $34.64 and a fifty-two 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 firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. The stock has a 50 day moving average of $52.44 and a 200 day moving average of $48.08.

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.