Barclays PLC Has $8.25 Million Stock Position in Summit Materials, Inc. (NYSE:SUM)

Barclays PLC lifted its holdings in Summit Materials, Inc. (NYSE:SUM - Free Report) by 222.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,442 shares of the construction company's stock after purchasing an additional 145,858 shares during the period. Barclays PLC owned about 0.12% of Summit Materials worth $8,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Summit Materials in the third quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Summit Materials in the 3rd quarter worth $28,000. Toth Financial Advisory Corp grew its holdings in shares of Summit Materials by 147.1% in 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 last quarter. International Assets Investment Management LLC raised its position in shares of Summit Materials by 3,804.2% during the third 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 during the period. Finally, Quest Partners LLC purchased a new stake in shares of Summit Materials during the second quarter valued at $40,000.

Summit Materials Stock Down 0.8 %

Shares of SUM traded down $0.40 during mid-day trading on Wednesday, hitting $50.37. 7,625,228 shares of the company's stock were exchanged, compared to its average volume of 1,434,755. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 61.43 and a beta of 1.14. The firm has a fifty day moving average of $47.29 and a two-hundred day moving average of $41.29. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. Summit Materials, Inc. has a twelve month low of $34.38 and a twelve month high of $53.49.

Summit Materials (NYSE:SUM - Get Free Report) last posted its earnings results on Wednesday, October 30th. The construction company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The business's quarterly revenue was up 49.9% on a year-over-year basis. On average, sell-side analysts forecast that Summit Materials, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SUM. StockNews.com initiated coverage on Summit Materials in a research note on Friday, December 13th. They issued a "sell" rating on the stock. Longbow Research restated a "neutral" rating on shares of Summit Materials in a report on Tuesday, November 26th. Jefferies Financial Group lowered shares of Summit Materials from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $58.00 to $52.50 in a research note on Monday. JPMorgan Chase & Co. reissued a "neutral" rating and set a $52.50 target price (up from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $52.50 target price (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Summit Materials currently has an average rating of "Hold" and a consensus price target of $50.54.

Insider Activity at Summit Materials

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total value of $78,197.76. Following the transaction, the insider now directly owns 40,221 shares in the company, valued at approximately $2,047,651.11. This trade represents a 3.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is owned by company insiders.

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.