Congress Wealth Management LLC DE Acquires 2,358 Shares of Summit Materials, Inc. (NYSE:SUM)

Congress Wealth Management LLC DE raised its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,713 shares of the construction company’s stock after purchasing an additional 2,358 shares during the period. Congress Wealth Management LLC DE owned 0.11% of Summit Materials worth $10,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SUM. Arizona State Retirement System increased its stake in shares of Summit Materials by 0.9% during the fourth quarter. Arizona State Retirement System now owns 35,671 shares of the construction company’s stock valued at $1,805,000 after buying an additional 304 shares during the period. Versant Capital Management Inc boosted its holdings in Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after acquiring an additional 353 shares in the last quarter. Empowered Funds LLC purchased a new position in Summit Materials during the 4th quarter valued at $25,000. Alliance Wealth Advisors LLC UT raised its holdings in Summit Materials by 3.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 18,263 shares of the construction company’s stock worth $924,000 after purchasing an additional 611 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Summit Materials in the 3rd quarter worth $28,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SUM shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a research report on Monday, November 25th. Jefferies Financial Group downgraded Summit Materials from a “buy” rating to a “hold” rating and reduced their target price for the stock from $58.00 to $52.50 in a report on Monday, December 16th. Truist Financial restated a “hold” rating and issued a $52.50 target price (down previously from $60.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $52.50 price target (down from $54.00) on shares of Summit Materials in a research note on Monday, November 25th. Finally, Longbow Research reissued a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.67.

Summit Materials Stock Up 0.2 %

Shares of Summit Materials stock opened at $52.54 on Tuesday. The company has a 50-day simple moving average of $52.44 and a two-hundred day simple moving average of $48.08. Summit Materials, Inc. has a 52-week low of $34.64 and a 52-week high of $54.07. 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 stock has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13.

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.