Commonwealth of Pennsylvania Public School Empls Retrmt SYS Invests $1.52 Million in Summit Materials, Inc. (NYSE:SUM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Summit Materials, Inc. (NYSE:SUM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the construction company’s stock, valued at approximately $1,518,000.

A number of other institutional investors have also recently bought and sold shares of SUM. Empowered Funds LLC acquired a new position in shares of Summit Materials in the 4th quarter valued at $25,000. Versant Capital Management Inc lifted its stake in Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after buying an additional 353 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Summit Materials during the third quarter worth about $28,000. R Squared Ltd bought a new position in Summit Materials during the fourth quarter worth about $57,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Summit Materials during the 3rd quarter worth about $53,000.

Summit Materials Stock Performance

Shares of SUM stock opened at $52.54 on Wednesday. Summit Materials, Inc. has a 12 month low of $34.64 and a 12 month high of $54.07. The company’s fifty day simple moving average is $52.45 and its 200-day simple moving average is $48.19. The firm has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62.

Analyst Ratings Changes

SUM has been the topic of several recent analyst reports. Loop Capital reissued a “hold” rating and set a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Citigroup reissued a “neutral” rating and set a $52.50 price target (down from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Wolfe Research restated a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Longbow Research reiterated a “neutral” rating on shares of Summit Materials in a report on Tuesday, November 26th. Finally, StockNews.com initiated coverage on Summit Materials in a report on Wednesday, March 19th. They issued a “sell” rating for the company. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.67.

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.