Sei Investments Co. Sells 423,128 Shares of Summit Materials, Inc. (NYSE:SUM)

Sei Investments Co. lessened its position in shares of Summit Materials, Inc. (NYSE:SUM) by 61.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 260,531 shares of the construction company’s stock after selling 423,128 shares during the period. Sei Investments Co.’s holdings in Summit Materials were worth $13,183,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SUM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Summit Materials during the fourth quarter worth $1,518,000. Magnetar Financial LLC acquired a new position in shares of Summit Materials during the 4th quarter worth $79,094,000. Decagon Asset Management LLP bought a new stake in shares of Summit Materials during the 4th quarter worth $9,891,000. Xponance Inc. boosted its stake in Summit Materials by 9.6% in the fourth quarter. Xponance Inc. now owns 8,679 shares of the construction company’s stock valued at $439,000 after buying an additional 758 shares in the last quarter. Finally, Boston Partners bought a new position in Summit Materials in the fourth quarter valued at about $2,338,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Stephens downgraded shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Jefferies Financial Group lowered shares of Summit Materials from a “buy” rating to a “hold” rating and cut their target price for the company from $58.00 to $52.50 in a research report on Monday, December 16th. Finally, StockNews.com began coverage on shares of Summit Materials in a report on Thursday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.67.

Summit Materials Stock Up 0.2 %

Shares of NYSE:SUM opened at $52.54 on Friday. The firm has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The business has a fifty day simple moving average of $52.47 and a 200 day simple moving average of $48.37. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. Summit Materials, Inc. has a 12-month low of $34.64 and a 12-month high of $54.07.

About Summit Materials

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.