Summit Materials, Inc. (NYSE:SUM) Stake Lifted by Valmark Advisers Inc.

Valmark Advisers Inc. increased its stake in Summit Materials, Inc. (NYSE:SUM) by 29.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,781 shares of the construction company’s stock after acquiring an additional 5,398 shares during the period. Valmark Advisers Inc.’s holdings in Summit Materials were worth $915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SUM. Signaturefd LLC boosted its holdings in shares of Summit Materials by 110.3% in the fourth quarter. Signaturefd LLC now owns 654 shares of the construction company’s stock valued at $25,000 after acquiring an additional 343 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of Summit Materials in the third quarter valued at approximately $32,000. DekaBank Deutsche Girozentrale bought a new position in shares of Summit Materials in the third quarter valued at approximately $54,000. Headlands Technologies LLC bought a new position in shares of Summit Materials in the third quarter valued at approximately $77,000. Finally, Assetmark Inc. boosted its holdings in shares of Summit Materials by 20.9% in the third quarter. Assetmark Inc. now owns 5,021 shares of the construction company’s stock valued at $156,000 after acquiring an additional 868 shares in the last quarter.

Summit Materials Trading Up 1.6 %

Shares of NYSE:SUM traded up $0.63 during mid-day trading on Friday, hitting $40.00. The stock had a trading volume of 536,127 shares, compared to its average volume of 726,811. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.62 and a current ratio of 5.36. The company has a market cap of $6.97 billion, a PE ratio of 16.81 and a beta of 1.32. Summit Materials, Inc. has a 12-month low of $26.43 and a 12-month high of $44.89. The company’s 50 day moving average is $41.86 and its 200-day moving average is $37.90.

Summit Materials (NYSE:SUM) last released its earnings results on Wednesday, February 14th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $613.13 million during the quarter, compared to the consensus estimate of $560.90 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 19.8% compared to the same quarter last year. On average, sell-side analysts predict that Summit Materials, Inc. will post 2.23 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. 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 research note on Friday, April 5th. Stephens reissued an “overweight” rating and set a $45.00 target price on shares of Summit Materials in a research note on Tuesday, February 13th. Truist Financial increased their target price on shares of Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. 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. Finally, Royal Bank of Canada increased their target price on shares of Summit Materials from $39.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Summit Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.09.

Summit Materials 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.