Madison Investment Advisors LLC Takes Position in Summit Materials, Inc. (NYSE:SUM)

Madison Investment Advisors LLC acquired a new position in Summit Materials, Inc. (NYSE:SUM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 205,995 shares of the construction company’s stock, valued at approximately $10,423,000. Madison Investment Advisors LLC owned approximately 0.12% of Summit Materials at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SUM. Empowered Funds LLC acquired a new stake in shares of Summit Materials in the 4th quarter worth $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Summit Materials in the 3rd quarter worth $28,000. Versant Capital Management Inc boosted its position in shares of Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after purchasing an additional 353 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Summit Materials in the 3rd quarter worth $53,000. Finally, R Squared Ltd acquired a new stake in shares of Summit Materials in the 4th quarter worth $57,000.

Summit Materials Price Performance

NYSE:SUM opened at $52.54 on Friday. Summit Materials, Inc. has a 12 month low of $34.64 and a 12 month high of $54.07. The stock has a 50 day moving average of $52.43 and a two-hundred day moving average of $47.82. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. The firm has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13.

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial reaffirmed a “hold” rating and set a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Longbow Research reaffirmed a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Citigroup reaffirmed a “neutral” rating and set a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Jefferies Financial Group cut Summit Materials from a “buy” rating to a “hold” rating and lowered their price target for the stock from $58.00 to $52.50 in a research report on Monday, December 16th. Finally, Stephens cut Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.67.

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.