Summit Materials, Inc. (NYSE:SUM) Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC lessened its stake in Summit Materials, Inc. (NYSE:SUM) by 8.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 114,130 shares of the construction company’s stock after selling 9,933 shares during the quarter. Moody Aldrich Partners LLC owned 0.06% of Summit Materials worth $4,454,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SUM. V Square Quantitative Management LLC purchased a new position in shares of Summit Materials during the third quarter worth about $27,000. Toth Financial Advisory Corp grew its stake in Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after buying an additional 500 shares during the last quarter. International Assets Investment Management LLC increased its position in Summit Materials by 3,804.2% during the third quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after buying an additional 913 shares during the period. Register Financial Advisors LLC purchased a new stake in Summit Materials in the first quarter valued at approximately $45,000. Finally, Quest Partners LLC acquired a new stake in shares of Summit Materials in the second quarter valued at approximately $40,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Truist Financial reduced their target price on shares of Summit Materials from $53.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Stephens reissued an “overweight” rating and issued a $47.00 target price on shares of Summit Materials in a report on Tuesday, August 6th. Citigroup decreased their price target on Summit Materials from $47.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. DA Davidson reissued a “neutral” rating and issued a $41.00 price objective on shares of Summit Materials in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group reduced their target price on shares of Summit Materials from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Summit Materials has a consensus rating of “Moderate Buy” and a consensus target price of $47.17.

Summit Materials Price Performance

Shares of SUM stock traded up $0.23 during trading hours on Thursday, hitting $40.85. The company’s stock had a trading volume of 68,660 shares, compared to its average volume of 987,176. The company has a current ratio of 2.62, a quick ratio of 2.01 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average of $38.73 and a 200-day moving average of $38.70. Summit Materials, Inc. has a twelve month low of $30.83 and a twelve month high of $44.89. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 19.00 and a beta of 1.17.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Monday, August 5th. The construction company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Summit Materials had a return on equity of 7.00% and a net margin of 8.06%. The business’s revenue for the quarter was up 58.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, equities research analysts anticipate that Summit Materials, Inc. will post 1.63 EPS for the current year.

About Summit Materials

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.