Natixis Advisors LLC Buys 7,282 Shares of Summit Materials, Inc. (NYSE:SUM)

Natixis Advisors LLC increased its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 35.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,070 shares of the construction company’s stock after buying an additional 7,282 shares during the quarter. Natixis Advisors LLC’s holdings in Summit Materials were worth $1,096,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Royce & Associates LP lifted its holdings in shares of Summit Materials by 5.7% during the third quarter. Royce & Associates LP now owns 369,869 shares of the construction company’s stock valued at $14,436,000 after acquiring an additional 19,870 shares during the period. KBC Group NV increased its position in shares of Summit Materials by 19.8% during the 3rd quarter. KBC Group NV now owns 3,807 shares of the construction company’s stock worth $149,000 after purchasing an additional 629 shares in the last quarter. GSA Capital Partners LLP bought a new position in Summit Materials during the 3rd quarter valued at about $799,000. Entropy Technologies LP boosted its position in Summit Materials by 22.0% in the third quarter. Entropy Technologies LP now owns 17,754 shares of the construction company’s stock valued at $693,000 after buying an additional 3,197 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Summit Materials by 6.3% during the third quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock worth $270,000 after buying an additional 411 shares during the last quarter.

Wall Street Analyst Weigh In

SUM has been the subject of a number of research analyst reports. Longbow Research reiterated a “neutral” rating on shares of Summit Materials in a research note on Tuesday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $52.50 price objective (up previously from $43.00) on shares of Summit Materials in a research report on Monday. Morgan Stanley started coverage on Summit Materials in a research note on Monday, August 26th. They issued an “overweight” rating and a $51.00 price objective on the stock. Jefferies Financial Group lowered their target price on Summit Materials from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Loop Capital reiterated a “hold” rating and set a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Summit Materials has an average rating of “Hold” and a consensus price target of $50.81.

Summit Materials Trading Up 0.2 %

Summit Materials stock opened at $50.85 on Wednesday. The stock has a 50-day simple moving average of $43.52 and a 200 day simple moving average of $40.11. The stock has a market capitalization of $8.93 billion, a P/E ratio of 62.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. Summit Materials, Inc. has a 52 week low of $34.38 and a 52 week high of $53.49.

Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 49.9% on a year-over-year basis. Analysts expect that Summit Materials, Inc. will post 1.64 earnings per share for the current 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.