Linden Thomas Advisory Services LLC Purchases 1,968 Shares of Summit Materials, Inc. (NYSE:SUM)

Linden Thomas Advisory Services LLC grew its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,517 shares of the construction company’s stock after acquiring an additional 1,968 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Summit Materials were worth $366,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SUM. Vanguard Group Inc. increased its stake in Summit Materials by 1.2% in the third quarter. Vanguard Group Inc. now owns 11,925,288 shares of the construction company’s stock valued at $371,353,000 after purchasing an additional 136,921 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Summit Materials by 130.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,512,959 shares of the construction company’s stock valued at $171,674,000 after buying an additional 3,122,575 shares in the last quarter. Principal Financial Group Inc. raised its stake in Summit Materials by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 5,251,061 shares of the construction company’s stock worth $163,518,000 after buying an additional 105,796 shares during the period. FMR LLC boosted its holdings in Summit Materials by 22.6% in the third quarter. FMR LLC now owns 3,880,931 shares of the construction company’s stock worth $120,852,000 after acquiring an additional 714,379 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Summit Materials by 1.1% in the third quarter. Clearbridge Investments LLC now owns 3,061,137 shares of the construction company’s stock valued at $95,324,000 after acquiring an additional 34,100 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SUM shares. Citigroup upped their target price on Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Barclays raised their price objective 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. The Goldman Sachs Group boosted their target price on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. began coverage on shares of Summit Materials in a research report on Friday, February 23rd. They issued an “overweight” rating and a $47.00 price target on the stock. Finally, Truist Financial lifted their price target on Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Six 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 has a consensus rating of “Moderate Buy” and a consensus price target of $46.09.

Summit Materials Price Performance

Summit Materials stock opened at $40.00 on Friday. The stock has a market cap of $6.97 billion, a P/E 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 company’s 50 day moving average price is $41.86 and its two-hundred day moving average price is $37.87. Summit Materials, Inc. has a 52 week low of $26.43 and a 52 week high of $44.89.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The business 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%. Summit Materials’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. On average, equities analysts predict that Summit Materials, Inc. will post 2.28 earnings per share for the current year.

About Summit Materials

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.