163,591 Shares in Summit Materials, Inc. (NYSE:SUM) Acquired by Versor Investments LP

Versor Investments LP acquired a new stake in Summit Materials, Inc. (NYSE:SUM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 163,591 shares of the construction company’s stock, valued at approximately $8,278,000. Summit Materials comprises approximately 1.4% of Versor Investments LP’s portfolio, making the stock its 4th biggest position. Versor Investments LP owned approximately 0.09% of Summit Materials as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc grew its holdings in shares of Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after purchasing an additional 353 shares during the last quarter. Assetmark Inc. increased its position in shares of Summit Materials by 6.3% during the third quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock worth $270,000 after acquiring an additional 411 shares during the period. Empowered Funds LLC purchased a new position in shares of Summit Materials during the fourth quarter worth approximately $25,000. Alliance Wealth Advisors LLC UT raised its stake in shares of 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 valued at $924,000 after acquiring an additional 611 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Summit Materials by 19.8% in the third quarter. KBC Group NV now owns 3,807 shares of the construction company’s stock valued at $149,000 after purchasing an additional 629 shares during the period.

Summit Materials Stock Up 0.2 %

NYSE:SUM opened at $52.54 on Thursday. The company’s 50 day moving average is $51.91 and its two-hundred day moving average is $46.30. The company has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a twelve month low of $34.64 and a twelve month high of $54.07. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62.

Insider Activity

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total value of $78,197.76. Following the completion of the transaction, the insider now directly owns 40,221 shares in the company, 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 document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SUM. StockNews.com began coverage on Summit Materials in a research report on Sunday. They set a “sell” rating for the company. Truist Financial reaffirmed a “hold” rating and issued a $52.50 price objective (down from $60.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Loop Capital reissued a “hold” rating and set a $52.50 target price (down previously from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a research report on Monday, November 25th. Finally, Longbow Research reissued a “neutral” rating on shares of Summit Materials in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Summit Materials currently has an average rating of “Hold” and a consensus 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.