BNP Paribas Financial Markets Sells 3,152 Shares of Summit Materials, Inc. (NYSE:SUM)

BNP Paribas Financial Markets cut its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,579 shares of the construction company’s stock after selling 3,152 shares during the quarter. BNP Paribas Financial Markets’ holdings in Summit Materials were worth $1,395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SUM. Empowered Funds LLC purchased a new stake in shares of Summit Materials during the fourth quarter valued at $25,000. CoreFirst Bank & Trust purchased a new stake in shares of Summit Materials during the fourth quarter valued at $56,000. R Squared Ltd purchased a new stake in shares of Summit Materials during the fourth quarter valued at $57,000. Covestor Ltd boosted its position in shares of Summit Materials by 207.7% during the fourth quarter. Covestor Ltd now owns 1,831 shares of the construction company’s stock valued at $93,000 after buying an additional 1,236 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Summit Materials by 827.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,866 shares of the construction company’s stock valued at $196,000 after buying an additional 3,449 shares during the last quarter.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Summit Materials in a research report on Wednesday, May 14th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Summit Materials has a consensus rating of “Hold” and an average price target of $50.82.

Summit Materials Price Performance

Shares of Summit Materials stock opened at $52.54 on Tuesday. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The stock has a 50 day moving average price of $52.54 and a 200-day moving average price of $51.75. Summit Materials, Inc. has a one year low of $34.64 and a one year high of $54.07.

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.