Barclays PLC lowered its stake in shares of Summit Materials Inc (NYSE:SUM) by 53.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,626 shares of the construction company’s stock after selling 49,891 shares during the quarter. Barclays PLC’s holdings in Summit Materials were worth $529,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of SUM. Vanguard Group Inc boosted its stake in shares of Summit Materials by 2.6% in the 3rd quarter. Vanguard Group Inc now owns 10,023,710 shares of the construction company’s stock valued at $182,230,000 after purchasing an additional 253,306 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new position in shares of Summit Materials in the 4th quarter valued at about $1,061,000. Crestline Management LP bought a new position in shares of Summit Materials in the 3rd quarter valued at about $3,757,000. Clearbridge Investments LLC boosted its stake in shares of Summit Materials by 12.5% in the 3rd quarter. Clearbridge Investments LLC now owns 1,791,576 shares of the construction company’s stock valued at $32,571,000 after purchasing an additional 199,491 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Summit Materials in the 3rd quarter valued at about $744,000.
Summit Materials stock opened at $15.81 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.45 and a current ratio of 2.27. The company has a market cap of $1.75 billion, a P/E ratio of 105.40, a PEG ratio of 1.69 and a beta of 1.90. Summit Materials Inc has a fifty-two week low of $11.25 and a fifty-two week high of $31.36.
Summit Materials (NYSE:SUM) last announced its earnings results on Wednesday, February 6th. The construction company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.20). The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $459.58 million. Summit Materials had a return on equity of 1.34% and a net margin of 1.68%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. Analysts expect that Summit Materials Inc will post 0.81 EPS for the current fiscal year.
SUM has been the topic of several recent research reports. Scotiabank reaffirmed a “hold” rating on shares of Summit Materials in a research note on Thursday, February 14th. Zacks Investment Research raised shares of Summit Materials from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, March 20th. Stifel Nicolaus reissued a “buy” rating and set a $23.00 price objective on shares of Summit Materials in a research note on Wednesday, December 19th. JPMorgan Chase & Co. initiated coverage on shares of Summit Materials in a research note on Thursday, March 21st. They set a “neutral” rating and a $19.00 price objective on the stock. Finally, Berenberg Bank initiated coverage on shares of Summit Materials in a research note on Wednesday, April 3rd. They set a “hold” rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Summit Materials currently has an average rating of “Hold” and an average target price of $21.82.
In related news, CEO Thomas W. Hill bought 31,250 shares of the company’s stock in a transaction on Friday, February 15th. The shares were purchased at an average cost of $16.25 per share, for a total transaction of $507,812.50. Following the acquisition, the chief executive officer now owns 135,652 shares of the company’s stock, valued at approximately $2,204,345. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.50% of the company’s stock.
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