Summit Materials, Inc. (NYSE:SUM) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its position in shares of Summit Materials, Inc. (NYSE:SUM) by 17.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,201,939 shares of the construction company’s stock after selling 259,926 shares during the period. Nuveen Asset Management LLC’s holdings in Summit Materials were worth $60,818,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Summit Materials in the fourth quarter valued at about $4,680,000. Moody Aldrich Partners LLC grew its position in shares of Summit Materials by 15.4% in the fourth quarter. Moody Aldrich Partners LLC now owns 131,710 shares of the construction company’s stock valued at $6,665,000 after purchasing an additional 17,580 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of Summit Materials in the fourth quarter valued at about $1,082,000. Nisa Investment Advisors LLC grew its position in shares of Summit Materials by 2,256.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 192,319 shares of the construction company’s stock valued at $9,731,000 after purchasing an additional 184,158 shares during the period. Finally, Barclays PLC grew its position in shares of Summit Materials by 15.0% in the fourth quarter. Barclays PLC now owns 243,079 shares of the construction company’s stock valued at $12,299,000 after purchasing an additional 31,637 shares during the period.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Summit Materials in a research report on Wednesday, May 14th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.82.

Summit Materials Stock Performance

SUM opened at $52.54 on Monday. The firm has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a twelve month low of $34.64 and a twelve month high of $54.07. The firm’s 50-day moving average price is $52.54 and its 200 day moving average price is $51.72. 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 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.