Thrivent Financial for Lutherans Purchases 27,225 Shares of Summit Materials, Inc. (NYSE:SUM)

Thrivent Financial for Lutherans grew its holdings in Summit Materials, Inc. (NYSE:SUM - Free Report) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 731,995 shares of the construction company's stock after acquiring an additional 27,225 shares during the period. Thrivent Financial for Lutherans owned 0.42% of Summit Materials worth $28,570,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Johnson Investment Counsel Inc. raised its holdings in Summit Materials by 5.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,941 shares of the construction company's stock valued at $218,000 after acquiring an additional 327 shares in the last quarter. Assetmark Inc. lifted its position in shares of Summit Materials by 6.3% during the 3rd quarter. Assetmark Inc. now owns 6,913 shares of the construction company's stock worth $270,000 after buying an additional 411 shares during the period. Waycross Investment Management Co raised its stake in Summit Materials by 1.0% during the second quarter. Waycross Investment Management Co now owns 41,076 shares of the construction company's stock worth $1,504,000 after acquiring an additional 412 shares in the last quarter. Xponance Inc. boosted its stake in shares of Summit Materials by 6.2% in the 2nd quarter. Xponance Inc. now owns 7,687 shares of the construction company's stock valued at $281,000 after purchasing an additional 448 shares in the last quarter. Finally, InterOcean Capital Group LLC increased its position in shares of Summit Materials by 4.5% during the 1st quarter. InterOcean Capital Group LLC now owns 10,591 shares of the construction company's stock worth $472,000 after purchasing an additional 455 shares in the last quarter.

Summit Materials Price Performance

SUM traded up $0.01 on Wednesday, reaching $48.40. The company had a trading volume of 546,836 shares, compared to its average volume of 1,067,318. Summit Materials, Inc. has a 52-week low of $33.93 and a 52-week high of $51.74. 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 company has a market cap of $8.50 billion, a price-to-earnings ratio of 59.00 and a beta of 1.14. The business has a 50 day simple moving average of $42.24 and a 200 day simple moving average of $39.75.

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 during the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the company posted $0.81 EPS. The company's quarterly revenue was up 49.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Summit Materials, Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com raised shares of Summit Materials from a "sell" rating to a "hold" rating in a research note on Tuesday, November 5th. Stephens restated an "overweight" rating and set a $47.00 price objective on shares of Summit Materials in a report on Tuesday, August 6th. Morgan Stanley initiated coverage on Summit Materials in a research note on Monday, August 26th. They issued an "overweight" rating and a $51.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Summit Materials from $53.00 to $54.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Barclays raised Summit Materials from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $45.00 to $52.00 in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.38.

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.