Alliance Wealth Advisors LLC UT Has $505,000 Stock Position in Summit Materials, Inc. (NYSE:SUM)

Alliance Wealth Advisors LLC UT increased its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,131 shares of the construction company’s stock after purchasing an additional 465 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Summit Materials were worth $505,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SUM. Massachusetts Financial Services Co. MA increased its stake in Summit Materials by 130.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,512,959 shares of the construction company’s stock valued at $171,674,000 after purchasing an additional 3,122,575 shares in the last quarter. River Road Asset Management LLC increased its position in shares of Summit Materials by 172.9% in the 3rd quarter. River Road Asset Management LLC now owns 1,617,490 shares of the construction company’s stock valued at $50,369,000 after buying an additional 1,024,888 shares in the last quarter. FMR LLC raised its stake in Summit Materials by 22.6% during the 3rd quarter. FMR LLC now owns 3,880,931 shares of the construction company’s stock worth $120,852,000 after buying an additional 714,379 shares during the period. Qube Research & Technologies Ltd bought a new position in Summit Materials during the third quarter worth about $9,221,000. Finally, Hsbc Holdings PLC grew its stake in Summit Materials by 496.4% in the third quarter. Hsbc Holdings PLC now owns 268,515 shares of the construction company’s stock valued at $8,406,000 after acquiring an additional 223,489 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SUM shares. Barclays raised their price target on Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Royal Bank of Canada raised their target price on shares of Summit Materials from $39.00 to $44.00 and gave the stock a “sector perform” rating in a report on Thursday, March 14th. Citigroup increased their price objective on shares of Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. initiated coverage on shares of Summit Materials in a report on Friday, February 23rd. They set an “overweight” rating and a $47.00 price objective on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.09.

Summit Materials Stock Up 1.6 %

Shares of NYSE:SUM traded up $0.63 during midday trading on Friday, reaching $40.00. The company had a trading volume of 536,127 shares, compared to its average volume of 726,811. Summit Materials, Inc. has a 1-year low of $26.43 and a 1-year high of $44.89. The stock has a market cap of $6.97 billion, a PE ratio of 16.81 and a beta of 1.32. The company has a quick ratio of 4.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average price is $41.86 and its 200 day moving average price is $37.90.

Summit Materials (NYSE:SUM) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.04. The firm had revenue of $613.13 million for the quarter, compared to analyst estimates of $560.90 million. Summit Materials had a return on equity of 8.73% and a net margin of 10.91%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. Research analysts forecast that Summit Materials, Inc. will post 2.23 EPS 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.