Homestead Advisers Corp Reduces Stock Holdings in Summit Materials, Inc. (NYSE:SUM)

Homestead Advisers Corp lessened its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 37.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,609 shares of the construction company’s stock after selling 84,600 shares during the quarter. Homestead Advisers Corp owned about 0.08% of Summit Materials worth $7,115,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Arizona State Retirement System boosted its stake in Summit Materials by 0.9% in the fourth quarter. Arizona State Retirement System now owns 35,671 shares of the construction company’s stock valued at $1,805,000 after acquiring an additional 304 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after purchasing an additional 353 shares during the period. Empowered Funds LLC purchased a new position in Summit Materials during the 4th quarter worth approximately $25,000. Alliance Wealth Advisors LLC UT increased its position in Summit Materials by 3.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 18,263 shares of the construction company’s stock worth $924,000 after buying an additional 611 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Summit Materials in the third quarter valued at approximately $28,000.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SUM shares. StockNews.com initiated coverage on shares of Summit Materials in a research report on Thursday. They set a “sell” rating on the stock. Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group downgraded shares of Summit Materials from a “buy” rating to a “hold” rating and decreased their target price for the stock from $58.00 to $52.50 in a research note on Monday, December 16th. One research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.67.

Summit Materials Stock Performance

Shares of SUM opened at $52.54 on Thursday. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. Summit Materials, Inc. has a 52-week low of $34.64 and a 52-week high of $54.07. The company has a 50-day simple moving average of $52.45 and a 200-day simple moving average of $48.22. The company has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13.

Summit Materials Profile

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.