Summit Materials, Inc. (NYSE:SUM) Shares Bought by Xponance Inc.

Xponance Inc. increased its position in Summit Materials, Inc. (NYSE:SUM) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,679 shares of the construction company’s stock after acquiring an additional 758 shares during the period. Xponance Inc.’s holdings in Summit Materials were worth $439,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SUM. Arizona State Retirement System grew its holdings in Summit Materials by 0.9% in the fourth quarter. Arizona State Retirement System now owns 35,671 shares of the construction company’s stock valued at $1,805,000 after purchasing an additional 304 shares during the last quarter. Versant Capital Management Inc raised its position in Summit Materials by 179.2% during the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after acquiring an additional 353 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Summit Materials in the fourth quarter valued at approximately $25,000. Alliance Wealth Advisors LLC UT increased its stake in shares of Summit Materials by 3.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 18,263 shares of the construction company’s stock worth $924,000 after purchasing an additional 611 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Summit Materials during the 3rd quarter worth approximately $28,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SUM. Stephens downgraded Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. StockNews.com assumed coverage on Summit Materials in a research report on Thursday. They set a “sell” rating for the company. Finally, Jefferies Financial Group lowered shares of Summit Materials from a “buy” rating to a “hold” rating and reduced their target price for the company from $58.00 to $52.50 in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Summit Materials has a consensus rating of “Hold” and an average target price of $50.67.

Summit Materials Price Performance

Summit Materials stock opened at $52.54 on Thursday. Summit Materials, Inc. has a 1 year low of $34.64 and a 1 year high of $54.07. 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 moving average price of $52.45 and a 200 day moving average price of $48.22. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13.

About Summit Materials

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.