Strs Ohio Boosts Holdings in Summit Materials, Inc. (NYSE:SUM)

Strs Ohio boosted its position in Summit Materials, Inc. (NYSE:SUM) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,400 shares of the construction company’s stock after purchasing an additional 1,200 shares during the quarter. Strs Ohio’s holdings in Summit Materials were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Harvey Capital Management Inc. purchased a new stake in Summit Materials in the 4th quarter worth approximately $1,167,000. Vanguard Group Inc. lifted its stake in Summit Materials by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 11,925,288 shares of the construction company’s stock worth $371,353,000 after purchasing an additional 136,921 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Summit Materials in the 3rd quarter worth approximately $855,000. Oliver Luxxe Assets LLC increased its holdings in shares of Summit Materials by 26.2% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 82,361 shares of the construction company’s stock worth $2,565,000 after buying an additional 17,101 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Summit Materials by 46.2% in the 3rd quarter. Stifel Financial Corp now owns 79,394 shares of the construction company’s stock worth $2,472,000 after buying an additional 25,090 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on SUM. Truist Financial increased their price target on shares of Summit Materials from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Stephens reaffirmed an “overweight” rating and set a $45.00 target price on shares of Summit Materials in a report on Tuesday, February 13th. Citigroup increased their target price on shares of Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, April 5th. The Goldman Sachs Group increased their target price on shares of Summit Materials from $43.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Finally, Barclays increased their target price on shares of Summit Materials from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.09.

Summit Materials Stock Up 1.6 %

Shares of Summit Materials stock opened at $40.00 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.36 and a quick ratio of 4.62. Summit Materials, Inc. has a 1 year low of $26.43 and a 1 year high of $44.89. The firm’s 50-day moving average is $41.86 and its two-hundred day moving average is $37.93. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 16.81 and a beta of 1.32.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. The business had revenue of $613.13 million for the quarter, compared to analysts’ expectations of $560.90 million. During the same period last year, the business earned $0.32 EPS. The company’s revenue was up 19.8% compared to the same quarter last year. As a group, research analysts expect that Summit Materials, Inc. will post 2.23 earnings per share for the current fiscal year.

Summit Materials Company Profile

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. 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.