Fmr LLC Has $134.06 Million Stock Holdings in Summit Materials, Inc. (NYSE:SUM)

Fmr LLC increased its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 1.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,705,337 shares of the construction company’s stock after purchasing an additional 84,284 shares during the period. Fmr LLC owned approximately 3.97% of Summit Materials worth $134,055,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Dorsey & Whitney Trust CO LLC lifted its position in shares of Summit Materials by 2.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 13,185 shares of the construction company’s stock worth $374,000 after purchasing an additional 344 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Summit Materials by 2.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,302 shares of the construction company’s stock worth $378,000 after purchasing an additional 353 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Summit Materials by 1.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,577 shares of the construction company’s stock worth $641,000 after purchasing an additional 377 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Summit Materials by 5.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,413 shares of the construction company’s stock worth $210,000 after purchasing an additional 415 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its position in shares of Summit Materials by 5.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,413 shares of the construction company’s stock worth $210,000 after purchasing an additional 415 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on SUM. Stephens upped their price target on Summit Materials from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, August 4th. BNP Paribas cut Summit Materials from an “outperform” rating to a “neutral” rating and set a $38.00 price target for the company. in a report on Monday, July 24th. Citigroup upped their price target on Summit Materials from $35.00 to $43.00 and gave the company a “buy” rating in a report on Friday, July 14th. Truist Financial upped their price target on Summit Materials from $40.00 to $48.00 and gave the company a “buy” rating in a report on Monday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on Summit Materials from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.77.

Summit Materials Stock Up 2.6 %

NYSE SUM opened at $38.37 on Friday. The firm has a market cap of $4.56 billion, a PE ratio of 27.21 and a beta of 1.46. Summit Materials, Inc. has a one year low of $23.19 and a one year high of $39.56. The stock’s 50 day simple moving average is $37.02 and its 200 day simple moving average is $32.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.61 and a quick ratio of 1.90.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The business had revenue of $680.40 million for the quarter, compared to analyst estimates of $642.59 million. Summit Materials had a return on equity of 8.79% and a net margin of 6.85%. Summit Materials’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. As a group, sell-side analysts forecast that Summit Materials, Inc. will post 1.43 earnings per share for the current fiscal year.

Summit Materials Profile

Summit Materials, Inc operates as a vertically integrated construction materials company. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components. It also provides asphalt paving and related services.