Nisa Investment Advisors LLC Increases Stock Holdings in Summit Materials, Inc. (NYSE:SUM)

Nisa Investment Advisors LLC raised its holdings in Summit Materials, Inc. (NYSE:SUM - Free Report) by 2,256.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,319 shares of the construction company's stock after buying an additional 184,158 shares during the period. Nisa Investment Advisors LLC owned about 0.11% of Summit Materials worth $9,731,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SUM. Versant Capital Management Inc raised its position in shares of Summit Materials by 179.2% during the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company's stock worth $28,000 after acquiring an additional 353 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Summit Materials in the third quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Summit Materials during the third quarter worth approximately $28,000. Toth Financial Advisory Corp lifted its position in shares of 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 buying an additional 500 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Summit Materials by 3,804.2% during the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company's stock worth $37,000 after buying an additional 913 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SUM shares. Citigroup reiterated a "neutral" rating and set a $52.50 price target (down from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated a "sector perform" rating and set a $52.50 target price (down previously from $54.00) on shares of Summit Materials in a research report on Monday, November 25th. Longbow Research reissued a "neutral" rating on shares of Summit Materials in a research report on Tuesday, November 26th. DA Davidson lifted their price target on Summit Materials from $41.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Finally, Truist Financial reissued a "hold" rating and issued a $52.50 price objective (down from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $50.54.

Insider Buying and Selling at Summit Materials

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of the firm's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total transaction of $78,197.76. Following the completion of the transaction, the insider now owns 40,221 shares of the company's stock, valued at approximately $2,047,651.11. This trade represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.55% of the company's stock.

Summit Materials Price Performance

SUM stock traded up $0.02 during midday trading on Friday, hitting $52.22. 1,589,998 shares of the stock were exchanged, compared to its average volume of 4,024,393. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 63.68 and a beta of 1.14. Summit Materials, Inc. has a fifty-two week low of $34.64 and a fifty-two week high of $53.49. The stock's 50-day moving average price is $50.96 and its 200-day moving average price is $43.97.

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

Summit Materials Company 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.