Summit Materials, Inc. (NYSE:SUM) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lessened its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,300 shares of the construction company’s stock after selling 4,000 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Summit Materials were worth $3,001,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUM. Empowered Funds LLC bought a new stake in shares of Summit Materials in the 4th quarter worth $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Summit Materials in the third quarter worth about $28,000. Versant Capital Management Inc lifted its holdings in Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after acquiring an additional 353 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Summit Materials during the 3rd quarter valued at about $53,000. Finally, R Squared Ltd acquired a new position in shares of Summit Materials in the 4th quarter worth approximately $57,000.

Summit Materials Stock Performance

SUM stock opened at $52.54 on Friday. The stock has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The firm has a 50 day simple moving average of $52.43 and a 200 day simple moving average of $47.89. Summit Materials, Inc. has a 52 week low of $34.64 and a 52 week high of $54.07.

Wall Street Analysts Forecast Growth

SUM has been the subject of several recent research reports. Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Wolfe Research reiterated a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $52.50 target price (up from $43.00) on shares of Summit Materials in a report on Monday, November 25th. Longbow Research reissued a “neutral” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Finally, Truist Financial reaffirmed a “hold” rating and set a $52.50 price objective (down from $60.00) 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 assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.67.

Summit Materials Company 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.