5,429 Shares in Summit Materials, Inc. (NYSE:SUM) Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. bought a new stake in shares of Summit Materials, Inc. (NYSE:SUM) during the third quarter, Holdings Channel.com reports. The fund bought 5,429 shares of the construction company’s stock, valued at approximately $203,000.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Summit Materials in the third quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Summit Materials during the 3rd quarter worth about $28,000. Toth Financial Advisory Corp boosted its stake in Summit Materials by 147.1% in 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 period. International Assets Investment Management LLC grew its holdings 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 buying an additional 913 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Summit Materials during the second quarter valued at about $40,000.

Analyst Upgrades and Downgrades

SUM has been the subject of a number of analyst reports. Wolfe Research restated a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Barclays upgraded shares of Summit Materials from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $52.00 in a research report on Tuesday, October 29th. Loop Capital reiterated a “hold” rating and issued a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. StockNews.com began coverage on Summit Materials in a research note on Saturday. They set a “sell” rating for the company. Finally, Longbow Research restated a “neutral” rating on shares of Summit Materials in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.54.

Insider Buying and Selling

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the 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 sale, the insider now directly owns 40,221 shares in the company, valued at $2,047,651.11. This represents a 3.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is owned by corporate insiders.

Summit Materials Stock Performance

Shares of NYSE SUM opened at $50.50 on Monday. The stock’s 50-day moving average is $48.02 and its 200 day moving average is $41.55. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 61.59 and a beta of 1.14. Summit Materials, Inc. has a 1-year low of $34.38 and a 1-year high of $53.49. 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 (NYSE:SUM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The business’s quarterly revenue was up 49.9% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. On average, sell-side analysts anticipate that Summit Materials, Inc. will post 1.66 EPS for the current fiscal year.

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.