John G Ullman & Associates Inc. Reduces Holdings in Summit Materials, Inc. (NYSE:SUM)

John G Ullman & Associates Inc. decreased its position in shares of Summit Materials, Inc. (NYSE:SUM) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 103,251 shares of the construction company’s stock after selling 5,622 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Summit Materials were worth $5,225,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SUM. International Assets Investment Management LLC grew its holdings in shares of Summit Materials by 3,804.2% during the third quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after purchasing an additional 913 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Summit Materials during the third quarter worth about $204,000. Diversify Wealth Management LLC grew its holdings in shares of Summit Materials by 14.2% during the third quarter. Diversify Wealth Management LLC now owns 10,164 shares of the construction company’s stock worth $413,000 after buying an additional 1,260 shares during the last quarter. Farther Finance Advisors LLC grew its holdings 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 worth $51,000 after buying an additional 951 shares during the last quarter. Finally, Harvey Capital Management Inc. grew its holdings in shares of Summit Materials by 21.1% during the third quarter. Harvey Capital Management Inc. now owns 49,048 shares of the construction company’s stock worth $1,914,000 after buying an additional 8,550 shares during the last quarter.

Insiders Place Their Bets

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total transaction of $78,197.76. Following the transaction, the insider now owns 40,221 shares of the company’s stock, valued at $2,047,651.11. This represents a 3.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. DA Davidson raised their price target on Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wolfe Research reissued a “peer perform” rating on shares of Summit Materials in a report on Tuesday, November 26th. Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Longbow Research restated a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, Citigroup reiterated a “neutral” rating and set a $52.50 target price (down previously from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Summit Materials has an average rating of “Hold” and an average target price of $50.54.

Summit Materials Trading Up 0.2 %

Shares of Summit Materials stock opened at $52.54 on Friday. Summit Materials, Inc. has a fifty-two week low of $34.64 and a fifty-two week high of $54.07. The firm has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The business’s fifty day moving average is $51.99 and its two-hundred day moving average is $46.50. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62.

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.