Summit Materials, Inc. (NYSE:SUM) Shares Acquired by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC boosted its position in shares of Summit Materials, Inc. (NYSE:SUM - Free Report) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,547,312 shares of the construction company's stock after purchasing an additional 94,177 shares during the quarter. Summit Materials comprises about 0.8% of Segall Bryant & Hamill LLC's portfolio, making the stock its 11th biggest position. Segall Bryant & Hamill LLC owned 0.88% of Summit Materials worth $60,392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Summit Materials during the third quarter valued at approximately $27,000. Toth Financial Advisory Corp raised its position 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 in the last quarter. International Assets Investment Management LLC lifted its stake 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 purchasing an additional 913 shares during the last quarter. Quest Partners LLC bought a new stake in Summit Materials during the second quarter valued at about $40,000. Finally, Farther Finance Advisors LLC grew its stake in Summit Materials by 275.7% in the third 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 during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Summit Materials from $47.00 to $43.00 and set an "overweight" rating for the company in a research note on Wednesday, October 9th. Loop Capital boosted their target price on Summit Materials from $49.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Morgan Stanley started coverage on Summit Materials in a research report on Monday, August 26th. They set an "overweight" rating and a $51.00 target price on the stock. Barclays raised Summit Materials from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $45.00 to $52.00 in a report on Tuesday, October 29th. Finally, Truist Financial upped their price objective on shares of Summit Materials from $47.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.38.

Summit Materials Price Performance

SUM traded up $0.12 during midday trading on Wednesday, hitting $48.51. 155,500 shares of the company traded hands, compared to its average volume of 1,065,579. The business has a 50 day simple moving average of $42.24 and a two-hundred day simple moving average of $39.75. Summit Materials, Inc. has a 52-week low of $33.93 and a 52-week high of $51.74. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 59.00 and a beta of 1.14. 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 - Get Free Report) last released its earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.17 billion. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The company's revenue for the quarter was up 49.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, equities analysts forecast that Summit Materials, Inc. will post 1.64 earnings per share for the current fiscal year.

Summit Materials Profile

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.