Summit Materials, Inc. (NYSE:SUM) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. grew its holdings in shares of Summit Materials, Inc. (NYSE:SUM - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 557,830 shares of the construction company's stock after purchasing an additional 48,421 shares during the quarter. Congress Asset Management Co. owned approximately 0.32% of Summit Materials worth $28,226,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. grew its position in shares of Summit Materials by 1,436.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company's stock valued at $44,501,000 after purchasing an additional 822,222 shares in the last quarter. River Road Asset Management LLC boosted 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 buying an additional 488,688 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Summit Materials by 6.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,639,798 shares of the construction company's stock valued at $298,181,000 after buying an additional 429,062 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Summit Materials by 21.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company's stock worth $68,419,000 after acquiring an additional 313,957 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Summit Materials during the 3rd quarter worth $8,045,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SUM. Wolfe Research reissued a "peer perform" rating on shares of Summit Materials in a report on Tuesday, November 26th. Longbow Research reissued a "neutral" rating on shares of Summit Materials in a research note on Tuesday, November 26th. Truist Financial restated a "hold" rating and set a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. Loop Capital reiterated a "hold" rating and issued a $52.50 price objective (down from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $52.50 target price (up previously from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Summit Materials has an average rating of "Hold" and an average price target of $50.54.

Insiders Place Their Bets

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of the business'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 completion of the transaction, the insider now owns 40,221 shares in the company, valued at $2,047,651.11. The trade was a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.55% of the company's stock.

Summit Materials Trading Up 0.2 %

Shares of SUM stock traded up $0.09 on Thursday, hitting $52.54. The stock had a trading volume of 4,694,636 shares, compared to its average volume of 2,756,030. The company's 50 day moving average price is $51.72 and its 200-day moving average price is $45.79. Summit Materials, Inc. has a 1 year low of $34.64 and a 1 year high of $54.07. The firm has a market capitalization of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48.

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.