Headlands Technologies LLC Takes Position in Summit Materials, Inc. (NYSE:SUM)

Headlands Technologies LLC purchased a new position in Summit Materials, Inc. (NYSE:SUMFree Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,480 shares of the construction company’s stock, valued at approximately $77,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC raised its stake in Summit Materials by 1,125.8% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 76,991 shares of the construction company’s stock valued at $2,398,000 after acquiring an additional 70,710 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Summit Materials by 9.6% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 15,434 shares of the construction company’s stock valued at $481,000 after buying an additional 1,350 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Summit Materials by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,416,951 shares of the construction company’s stock valued at $44,124,000 after buying an additional 75,054 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Summit Materials during the third quarter valued at about $361,000. Finally, Janney Capital Management LLC increased its position in shares of Summit Materials by 2.7% during the third quarter. Janney Capital Management LLC now owns 13,160 shares of the construction company’s stock valued at $410,000 after buying an additional 350 shares during the period.

Summit Materials Price Performance

SUM opened at $38.25 on Tuesday. The stock has a fifty day simple moving average of $37.13 and a two-hundred day simple moving average of $35.32. The company has a current ratio of 2.51, a quick ratio of 1.82 and a debt-to-equity ratio of 0.64. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 14.66 and a beta of 1.30. Summit Materials, Inc. has a 12-month low of $25.43 and a 12-month high of $39.56.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada cut Summit Materials from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $43.00 to $38.00 in a research report on Friday, January 12th. Seaport Res Ptn raised Summit Materials from a “neutral” rating to a “buy” rating in a report on Tuesday, October 24th. Finally, Stephens reissued an “overweight” rating and set a $45.00 price objective on shares of Summit Materials in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.30.

Check Out Our Latest Stock Report on Summit Materials

About Summit Materials

(Free Report)

Summit Materials, Inc operates as a vertically integrated construction materials company. 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. It also provides asphalt paving and related services.

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Institutional Ownership by Quarter for Summit Materials (NYSE:SUM)

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