Nisa Investment Advisors LLC Has $9.73 Million Position in Summit Materials, Inc. (NYSE:SUM)

Nisa Investment Advisors LLC raised its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 2,256.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,319 shares of the construction company’s stock after purchasing an additional 184,158 shares during the period. Nisa Investment Advisors LLC owned 0.11% of Summit Materials worth $9,731,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after buying an additional 353 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Summit Materials in the third quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Summit Materials in the third quarter worth about $28,000. Toth Financial Advisory Corp lifted its position in shares of Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in 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 valued at $37,000 after purchasing an additional 913 shares during the period.

Insider Buying and Selling at Summit Materials

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of Summit Materials stock in a transaction on Tuesday, December 10th. The stock was 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 approximately $2,047,651.11. The trade was a 3.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SUM shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $52.50 price target (up from $43.00) on shares of Summit Materials in a report on Monday, November 25th. StockNews.com started coverage on shares of Summit Materials in a report on Wednesday. They issued a “sell” rating for the company. Jefferies Financial Group downgraded shares of Summit Materials from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $58.00 to $52.50 in a report on Monday, December 16th. Wolfe Research reiterated a “peer perform” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Finally, DA Davidson boosted their price target on Summit Materials from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.54.

Summit Materials Price Performance

Summit Materials stock opened at $52.19 on Friday. The business has a 50 day simple moving average of $50.89 and a 200 day simple moving average of $43.91. Summit Materials, Inc. has a one year low of $34.64 and a one year high of $53.49. The company has a market capitalization of $9.16 billion, a PE ratio of 63.64 and a beta of 1.14. 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 (NYSE:SUM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business earned $0.81 earnings per share. The business’s revenue was up 49.9% on a year-over-year basis. On average, sell-side analysts forecast that Summit Materials, Inc. will post 1.66 EPS for the current fiscal year.

About Summit Materials

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.