Amica Mutual Insurance Co. Trims Stock Position in Summit Materials, Inc. (NYSE:SUM)

Amica Mutual Insurance Co. lessened its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 28.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,113 shares of the construction company’s stock after selling 11,687 shares during the quarter. Amica Mutual Insurance Co.’s holdings in Summit Materials were worth $1,473,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SUM. Vanguard Group Inc. lifted its holdings in Summit Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,373,001 shares of the construction company’s stock valued at $626,074,000 after purchasing an additional 56,602 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Summit Materials by 1.8% during the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock valued at $206,445,000 after buying an additional 94,694 shares during the period. Geode Capital Management LLC boosted its position in Summit Materials by 0.3% during the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock worth $108,885,000 after acquiring an additional 9,566 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Summit Materials by 293.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,863,463 shares of the construction company’s stock worth $94,291,000 after acquiring an additional 1,389,955 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Summit Materials by 21.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock valued at $68,419,000 after acquiring an additional 313,957 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SUM. Stephens cut Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. StockNews.com assumed coverage on Summit Materials in a report on Thursday. They issued a “sell” rating for the company. Finally, Jefferies Financial Group lowered shares of Summit Materials from a “buy” rating to a “hold” rating and cut their price objective for the stock from $58.00 to $52.50 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Summit Materials presently has a consensus rating of “Hold” and an average target price of $50.67.

Summit Materials Stock Performance

Shares of SUM stock opened at $52.54 on Thursday. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. The company has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company’s fifty day simple moving average is $52.45 and its 200-day simple moving average is $48.22. Summit Materials, Inc. has a 52 week low of $34.64 and a 52 week high of $54.07.

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.