13,907 Shares in Summit Materials, Inc. (NYSE:SUM) Bought by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. purchased a new position in Summit Materials, Inc. (NYSE:SUM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,907 shares of the construction company's stock, valued at approximately $704,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of Summit Materials by 1,436.3% in the 4th 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 during the period. Graypoint LLC bought a new stake in Summit Materials in the fourth quarter valued at $470,000. Versant Capital Management Inc raised its stake in Summit Materials by 179.2% during the fourth 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. Principal Financial Group Inc. lifted its holdings in shares of 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 valued at $206,445,000 after acquiring an additional 94,694 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Summit Materials in the 3rd quarter valued at $203,000.

Wall Street Analyst Weigh In

SUM has been the subject of a number of recent analyst reports. Citigroup reiterated a "neutral" rating and set a $52.50 target price (down previously from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Truist Financial reaffirmed a "hold" rating and set a $52.50 price objective (down previously from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. DA Davidson lifted their target price 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. Stephens lowered Summit Materials from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, Barclays raised Summit Materials from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $45.00 to $52.00 in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Summit Materials has an average rating of "Hold" and a consensus target price of $50.54.

Summit Materials Trading Up 0.1 %

SUM stock traded up $0.04 during midday trading on Thursday, reaching $52.17. The stock had a trading volume of 2,430,368 shares, compared to its average volume of 4,688,117. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 63.63 and a beta of 1.14. Summit Materials, Inc. has a twelve month low of $34.38 and a twelve month high of $53.49. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $50.63 and a two-hundred day simple moving average of $43.34.

Summit Materials (NYSE:SUM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The company had revenue of $1.11 billion for 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS. As a group, research analysts expect that Summit Materials, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Summit Materials

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the business's stock in a transaction dated 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 directly owns 40,221 shares in the company, valued at approximately $2,047,651.11. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company's stock.

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.