Nisa Investment Advisors LLC Sells 400 Shares of Summit Materials, Inc. (NYSE:SUM)

Nisa Investment Advisors LLC lessened its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,937 shares of the construction company’s stock after selling 400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Summit Materials were worth $305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Summit Materials by 1.2% in the third quarter. Vanguard Group Inc. now owns 11,925,288 shares of the construction company’s stock worth $371,353,000 after purchasing an additional 136,921 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Summit Materials during the third quarter valued at approximately $855,000. Oliver Luxxe Assets LLC increased its stake in shares of Summit Materials by 26.2% during the third quarter. Oliver Luxxe Assets LLC now owns 82,361 shares of the construction company’s stock valued at $2,565,000 after buying an additional 17,101 shares during the period. Stifel Financial Corp raised its holdings in shares of Summit Materials by 46.2% during the third quarter. Stifel Financial Corp now owns 79,394 shares of the construction company’s stock valued at $2,472,000 after acquiring an additional 25,090 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Summit Materials by 1.5% in the third quarter. Rhumbline Advisers now owns 199,915 shares of the construction company’s stock worth $6,225,000 after acquiring an additional 2,921 shares during the period.

Analyst Upgrades and Downgrades

SUM has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Barclays increased their target price on Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. The Goldman Sachs Group lifted their price target on Summit Materials from $43.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Stephens reiterated an “overweight” rating and issued a $45.00 price objective on shares of Summit Materials in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. began coverage on shares of Summit Materials in a report on Friday, February 23rd. They set an “overweight” rating and a $47.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Summit Materials currently has an average rating of “Moderate Buy” and an average target price of $46.09.

Summit Materials Price Performance

Shares of NYSE:SUM opened at $38.47 on Friday. The business has a fifty day moving average price of $41.80 and a 200-day moving average price of $37.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.36 and a quick ratio of 4.62. The company has a market capitalization of $6.70 billion, a PE ratio of 16.16 and a beta of 1.32. Summit Materials, Inc. has a 1-year low of $26.18 and a 1-year high of $44.89.

Summit Materials (NYSE:SUM) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $613.13 million during the quarter, compared to analyst estimates of $560.90 million. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. Summit Materials’s revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. As a group, equities analysts expect that Summit Materials, Inc. will post 2.28 EPS for the current fiscal year.

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.