MONECO Advisors LLC Acquires Shares of 4,919 Summit Materials, Inc. (NYSE:SUM)

MONECO Advisors LLC acquired a new stake in Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,919 shares of the construction company’s stock, valued at approximately $249,000.

Several other large investors also recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new stake in Summit Materials in the fourth quarter valued at approximately $2,444,000. Handelsbanken Fonder AB boosted its stake in shares of Summit Materials by 12.1% during the 4th quarter. Handelsbanken Fonder AB now owns 18,500 shares of the construction company’s stock valued at $936,000 after buying an additional 2,000 shares during the last quarter. Alberta Investment Management Corp boosted its stake in shares of Summit Materials by 153.0% during the 4th quarter. Alberta Investment Management Corp now owns 200,000 shares of the construction company’s stock valued at $10,120,000 after buying an additional 120,950 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Summit Materials during the 4th quarter valued at approximately $271,000. Finally, Valmark Advisers Inc. boosted its stake in shares of Summit Materials by 15.6% during the 4th quarter. Valmark Advisers Inc. now owns 37,550 shares of the construction company’s stock valued at $1,900,000 after buying an additional 5,060 shares during the last quarter.

Insiders Place Their Bets

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of the stock in a transaction 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 sale, the insider now directly owns 40,221 shares of the company’s stock, valued at $2,047,651.11. This trade represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is owned by corporate insiders.

Summit Materials Price Performance

Shares of NYSE SUM opened at $52.54 on Wednesday. Summit Materials, Inc. has a 1-year low of $34.64 and a 1-year high of $54.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. The business’s fifty day moving average price is $51.86 and its two-hundred day moving average price is $46.26. The firm has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SUM shares. Barclays upgraded Summit Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $45.00 to $52.00 in a research note on Tuesday, October 29th. Longbow Research reiterated a “neutral” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Stephens cut Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Citigroup reiterated a “neutral” rating and set a $52.50 target price (down from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Finally, Wolfe Research restated a “peer perform” rating on shares of Summit Materials in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Summit Materials presently has a consensus rating of “Hold” and an average price target of $50.54.

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.