Tokio Marine Asset Management Co. Ltd. Invests $4.68 Million in Summit Materials, Inc. (NYSE:SUM)

Tokio Marine Asset Management Co. Ltd. bought a new stake in Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 92,500 shares of the construction company’s stock, valued at approximately $4,680,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SUM. Massachusetts Financial Services Co. MA raised its holdings in shares of Summit Materials by 6.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,639,798 shares of the construction company’s stock valued at $298,181,000 after buying an additional 429,062 shares during the period. Principal Financial Group Inc. grew its stake in Summit Materials by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock worth $206,445,000 after purchasing an additional 94,694 shares in the last quarter. River Road Asset Management LLC increased its holdings in Summit Materials by 15.9% during the 3rd quarter. River Road Asset Management LLC now owns 3,567,938 shares of the construction company’s stock worth $139,257,000 after purchasing an additional 488,688 shares during the period. Geode Capital Management LLC raised its position in Summit Materials by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock valued at $108,885,000 after purchasing an additional 9,566 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 313,957 shares during the period.

Summit Materials Stock Down 0.2 %

SUM stock opened at $52.32 on Monday. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 63.80 and a beta of 1.14. The company has a fifty day moving average price of $51.31 and a 200 day moving average price of $44.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials, Inc. has a 12 month low of $34.64 and a 12 month high of $53.49.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Truist Financial reaffirmed a “hold” rating and issued a $52.50 target price (down previously from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. Citigroup restated a “neutral” rating and issued a $52.50 price objective (down from $55.00) on shares of Summit Materials in a report on Tuesday, November 26th. Loop Capital reaffirmed a “hold” rating and set a $52.50 price objective (down from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Wolfe Research reissued a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $52.50 price target (up from $43.00) on shares of Summit Materials in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.54.

Insider Buying and Selling at Summit Materials

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total value of $78,197.76. Following the transaction, the insider now owns 40,221 shares of the company’s stock, valued at approximately $2,047,651.11. The trade was a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.55% of the stock is currently owned by company insiders.

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.