Deutsche Bank AG Has $14.40 Million Holdings in Summit Materials Inc (SUM)

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Deutsche Bank AG raised its stake in shares of Summit Materials Inc (NYSE:SUM) by 136.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,161,295 shares of the construction company’s stock after acquiring an additional 669,735 shares during the quarter. Deutsche Bank AG owned approximately 1.04% of Summit Materials worth $14,399,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Pearl River Capital LLC bought a new position in shares of Summit Materials in the fourth quarter valued at about $26,000. Oppenheimer Asset Management Inc. bought a new position in shares of Summit Materials in the fourth quarter valued at about $64,000. FCA Corp TX bought a new position in shares of Summit Materials in the fourth quarter valued at about $106,000. Point72 Hong Kong Ltd bought a new position in shares of Summit Materials in the third quarter valued at about $168,000. Finally, Bank of Montreal Can raised its holdings in shares of Summit Materials by 42.8% in the fourth quarter. Bank of Montreal Can now owns 10,929 shares of the construction company’s stock valued at $136,000 after buying an additional 3,275 shares during the last quarter.

Shares of SUM stock opened at $15.63 on Monday. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.27 and a quick ratio of 1.45. The stock has a market capitalization of $1.68 billion, a P/E ratio of 104.20, a PEG ratio of 1.69 and a beta of 1.90. Summit Materials Inc has a 12 month low of $11.25 and a 12 month high of $31.36.

Summit Materials (NYSE:SUM) last announced its quarterly earnings data on Wednesday, February 6th. The construction company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.20). The firm had revenue of $491.00 million during the quarter, compared to analyst estimates of $459.58 million. Summit Materials had a return on equity of 1.34% and a net margin of 1.68%. Summit Materials’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. Equities analysts anticipate that Summit Materials Inc will post 0.81 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the company. DA Davidson cut their price target on Summit Materials to $20.00 and set a “buy” rating for the company in a report on Wednesday, January 2nd. Citigroup cut their price target on Summit Materials from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, January 4th. Berenberg Bank assumed coverage on Summit Materials in a report on Wednesday, April 3rd. They issued a “hold” rating and a $18.00 price target for the company. Zacks Investment Research cut Summit Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 8th. Finally, JPMorgan Chase & Co. assumed coverage on Summit Materials in a report on Thursday, March 21st. They issued a “neutral” rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $21.82.

In other news, CEO Thomas W. Hill acquired 31,250 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was purchased at an average cost of $16.25 per share, for a total transaction of $507,812.50. Following the completion of the transaction, the chief executive officer now directly owns 135,652 shares in the company, valued at $2,204,345. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

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About Summit Materials

Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other markets. It operates in three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.

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Institutional Ownership by Quarter for Summit Materials (NYSE:SUM)

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