SG Americas Securities LLC Decreases Stake in Summit Materials, Inc. (NYSE:SUM)

SG Americas Securities LLC cut its holdings in shares of Summit Materials, Inc. (NYSE:SUM - Free Report) by 53.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,560 shares of the construction company's stock after selling 7,669 shares during the quarter. SG Americas Securities LLC's holdings in Summit Materials were worth $332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in Summit Materials by 6.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,639,798 shares of the construction company's stock worth $298,181,000 after purchasing an additional 429,062 shares during the period. Principal Financial Group Inc. raised its stake in Summit Materials by 1.8% during the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company's stock worth $206,445,000 after purchasing an additional 94,694 shares during the period. River Road Asset Management LLC raised its stake in Summit Materials by 15.9% during the third quarter. River Road Asset Management LLC now owns 3,567,938 shares of the construction company's stock worth $139,257,000 after purchasing an additional 488,688 shares during the period. Geode Capital Management LLC raised its stake in Summit Materials by 0.3% during the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company's stock worth $108,885,000 after purchasing an additional 9,566 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Summit Materials by 21.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company's stock worth $68,419,000 after purchasing an additional 313,957 shares during the period.

Insider Buying and Selling at Summit Materials

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total transaction of $78,197.76. Following the transaction, the insider now owns 40,221 shares in the company, valued at $2,047,651.11. This represents a 3.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.55% of the company's stock.

Summit Materials Trading Down 0.1 %

NYSE SUM traded down $0.05 on Friday, hitting $52.44. 3,684,641 shares of the company were exchanged, compared to its average volume of 2,756,030. The company's 50 day moving average price is $51.45 and its 200-day moving average price is $45.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. The firm has a market capitalization of $9.21 billion, a P/E ratio of 63.95 and a beta of 1.13. Summit Materials, Inc. has a twelve month low of $34.64 and a twelve month high of $53.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SUM shares. DA Davidson boosted their price target on shares of Summit Materials from $41.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Longbow Research reissued a "neutral" rating on shares of Summit Materials in a research note on Tuesday, November 26th. Citigroup reissued a "neutral" rating and issued a $52.50 price target (down from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Jefferies Financial Group downgraded shares of Summit Materials from a "buy" rating to a "hold" rating and reduced their price target for the company from $58.00 to $52.50 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. reaffirmed 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $50.54.

Summit Materials 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.