GSA Capital Partners LLP Makes New $799,000 Investment in Summit Materials, Inc. (NYSE:SUM)

GSA Capital Partners LLP bought a new position in Summit Materials, Inc. (NYSE:SUM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,463 shares of the construction company's stock, valued at approximately $799,000.

A number of other hedge funds have also added to or reduced their stakes in SUM. V Square Quantitative Management LLC purchased a new stake in shares of Summit Materials in the third quarter worth about $27,000. Toth Financial Advisory Corp increased its holdings in Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company's stock worth $33,000 after acquiring an additional 500 shares during the period. International Assets Investment Management LLC lifted its stake in Summit Materials by 3,804.2% in the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company's stock worth $37,000 after purchasing an additional 913 shares in the last quarter. Quest Partners LLC bought a new position in Summit Materials in the 2nd quarter valued at $40,000. Finally, Farther Finance Advisors LLC grew its position in shares of Summit Materials by 275.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company's stock valued at $51,000 after purchasing an additional 951 shares in the last quarter.

Summit Materials Trading Down 0.2 %

Summit Materials stock traded down $0.10 during mid-day trading on Friday, hitting $48.43. The company's stock had a trading volume of 1,085,651 shares, compared to its average volume of 2,058,419. The business has a 50 day moving average price of $41.74 and a 200-day moving average price of $39.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials, Inc. has a 12 month low of $33.70 and a 12 month high of $51.74. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 59.06 and a beta of 1.14.

Summit Materials (NYSE:SUM - Get Free Report) 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 firm had revenue of $1.11 billion for 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%. The company's quarterly revenue was up 49.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 earnings per share. As a group, analysts forecast that Summit Materials, Inc. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SUM. JPMorgan Chase & Co. lowered their price objective on Summit Materials from $47.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. DA Davidson raised their price target on Summit Materials from $41.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Stephens reissued an "overweight" rating and set a $47.00 price objective on shares of Summit Materials in a report on Tuesday, August 6th. StockNews.com raised shares of Summit Materials from a "sell" rating to a "hold" rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada lifted their target price on shares of Summit Materials from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.38.

About Summit Materials

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.