Segall Bryant & Hamill LLC Purchases 94,177 Shares of Summit Materials, Inc. (NYSE:SUM)

Segall Bryant & Hamill LLC grew its position in shares of Summit Materials, Inc. (NYSE:SUM) by 6.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,547,312 shares of the construction company’s stock after buying an additional 94,177 shares during the period. Summit Materials makes up about 0.8% of Segall Bryant & Hamill LLC’s holdings, making the stock its 11th biggest holding. Segall Bryant & Hamill LLC’s holdings in Summit Materials were worth $60,392,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Summit Materials during the 3rd quarter worth approximately $27,000. Toth Financial Advisory Corp raised its position in Summit Materials by 147.1% in the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock valued at $33,000 after buying an additional 500 shares during the last quarter. International Assets Investment Management LLC lifted 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 acquiring an additional 913 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Summit Materials in the second quarter valued at about $40,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Summit Materials by 275.7% during the third quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock valued at $51,000 after purchasing an additional 951 shares in the last quarter.

Summit Materials Price Performance

Shares of SUM opened at $48.38 on Wednesday. The firm has a fifty day simple moving average of $42.00 and a two-hundred day simple moving average of $39.69. The firm has a market cap of $8.50 billion, a PE ratio of 59.00 and a beta of 1.14. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. Summit Materials, Inc. has a 1-year low of $33.73 and a 1-year high of $51.74.

Summit Materials (NYSE:SUM) last announced 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 during 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 firm’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 earnings per share. On average, equities analysts anticipate that Summit Materials, Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SUM. Truist Financial lifted their price target on Summit Materials from $47.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays upgraded shares of Summit Materials from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $45.00 to $52.00 in a research report on Tuesday, October 29th. Morgan Stanley started coverage on shares of Summit Materials in a research report on Monday, August 26th. They set an “overweight” rating and a $51.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Summit Materials from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, Jefferies Financial Group reduced their price objective on Summit Materials from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.38.

Summit Materials Company Profile

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. 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.