Boston Partners Takes $2.34 Million Position in Summit Materials, Inc. (NYSE:SUM)

Boston Partners acquired a new position in Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 46,197 shares of the construction company’s stock, valued at approximately $2,338,000.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Summit Materials by 6.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,639,798 shares of the construction company’s stock worth $298,181,000 after acquiring an additional 429,062 shares during the period. Principal Financial Group Inc. boosted its stake in Summit Materials by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock worth $206,445,000 after purchasing an additional 94,694 shares during the period. Geode Capital Management LLC grew its holdings in Summit Materials by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock valued at $108,885,000 after buying an additional 9,566 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Summit Materials by 21.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock valued at $68,419,000 after buying an additional 313,957 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Summit Materials by 3.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,232,524 shares of the construction company’s stock worth $48,105,000 after buying an additional 45,467 shares in the last quarter.

Summit Materials Stock Up 0.2 %

Shares of NYSE SUM opened at $52.54 on Friday. The stock has a market capitalization of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a one year low of $34.64 and a one year high of $54.07. The firm’s 50 day simple moving average is $52.43 and its two-hundred day simple moving average is $47.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48.

Wall Street Analyst Weigh In

SUM has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of Summit Materials in a research note on Wednesday. They set a “sell” rating for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a report on Monday, November 25th. Wolfe Research reiterated a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Longbow Research restated a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Summit Materials has a consensus rating of “Hold” and an average target price of $50.67.

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.