Gamco Investors INC. ET AL Takes $9.25 Million Position in Summit Materials, Inc. (NYSE:SUM)

Gamco Investors INC. ET AL bought a new position in Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 182,800 shares of the construction company’s stock, valued at approximately $9,250,000.

A number of other large investors have also recently added to or reduced their stakes in SUM. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Summit Materials in the fourth quarter worth $704,000. Franklin Resources Inc. acquired a new position in Summit Materials during the 3rd quarter worth $7,359,000. Assenagon Asset Management S.A. boosted its holdings in Summit Materials by 1,436.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock valued at $44,501,000 after acquiring an additional 822,222 shares during the period. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Summit Materials in the fourth quarter valued at about $4,680,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Summit Materials in the third quarter valued at about $457,000.

Summit Materials Trading Up 0.2 %

Shares of SUM stock opened at $52.54 on Thursday. 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 fifty day moving average of $52.54 and a 200-day moving average of $49.76. Summit Materials, Inc. has a 52-week low of $34.64 and a 52-week high of $54.07. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13.

Analyst Ratings Changes

Several brokerages recently weighed in on SUM. StockNews.com assumed coverage on Summit Materials in a research note on Saturday, April 12th. They set a “sell” rating for the company. Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.67.

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.