Value Holdings Management CO. LLC Acquires 9,000 Shares of Summit Materials, Inc. (NYSE:SUM)

Value Holdings Management CO. LLC raised its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 90.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,000 shares of the construction company’s stock after purchasing an additional 9,000 shares during the quarter. Value Holdings Management CO. LLC’s holdings in Summit Materials were worth $962,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in shares of Summit Materials during the second quarter worth about $40,000. Envestnet Asset Management Inc. boosted its stake in shares of Summit Materials by 12.9% during the second quarter. Envestnet Asset Management Inc. now owns 151,897 shares of the construction company’s stock valued at $5,561,000 after purchasing an additional 17,306 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Summit Materials by 9.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,441 shares of the construction company’s stock valued at $748,000 after buying an additional 1,793 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Summit Materials by 206.3% in the 2nd quarter. Hsbc Holdings PLC now owns 67,685 shares of the construction company’s stock worth $2,485,000 after acquiring an additional 45,588 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Summit Materials during the second quarter valued at about $255,000.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com began coverage on Summit Materials in a report on Tuesday. They set a “sell” rating on the stock. Stephens cut shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Longbow Research reaffirmed a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Truist Financial reissued a “hold” rating and issued a $52.50 price target (down from $60.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.54.

Insider Buying and Selling at Summit Materials

In other news, insider Christopher Burke Gaskill sold 1,536 shares of Summit Materials stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total transaction of $78,197.76. Following the transaction, the insider now directly owns 40,221 shares of the company’s stock, valued at $2,047,651.11. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

Summit Materials Stock Up 0.0 %

SUM stock traded up $0.01 during midday trading on Friday, hitting $52.20. The company’s stock had a trading volume of 2,177,027 shares, compared to its average volume of 3,466,692. The company has a market cap of $9.17 billion, a PE ratio of 63.65 and a beta of 1.14. The firm’s 50-day moving average is $50.71 and its 200-day moving average is $43.52. Summit Materials, Inc. has a 12 month low of $34.64 and a 12 month high of $53.49. 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 (NYSE:SUM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.17 billion. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. Summit Materials’s revenue for the quarter was up 49.9% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. On average, equities research analysts forecast that Summit Materials, Inc. will post 1.66 earnings per share for the current fiscal year.

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.