503,363 Shares in Summit Materials, Inc. (NYSE:SUM) Purchased by Man Group plc

Man Group plc purchased a new stake in shares of Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 503,363 shares of the construction company’s stock, valued at approximately $25,470,000.

Several other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in shares of Summit Materials during the 4th quarter worth approximately $25,000. CoreFirst Bank & Trust purchased a new position in shares of Summit Materials in the fourth quarter valued at $56,000. R Squared Ltd bought a new stake in Summit Materials in the fourth quarter worth $57,000. Covestor Ltd raised its stake in 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 purchasing an additional 1,236 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in 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 purchasing an additional 3,449 shares during the last quarter.

Summit Materials Trading Up 0.2%

Shares of SUM opened at $52.54 on Friday. The company’s fifty day simple moving average is $52.54 and its 200-day simple moving average is $51.61. The company has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. Summit Materials, Inc. has a twelve month low of $34.64 and a twelve month high of $54.07.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Summit Materials in a report on Wednesday. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.82.

Summit Materials Profile

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.