Aristeia Capital L.L.C. Has $637,000 Stock Holdings in Summit Materials, Inc. (NYSE:SUM)

Aristeia Capital L.L.C. reduced its position in Summit Materials, Inc. (NYSE:SUM) by 27.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,581 shares of the construction company’s stock after selling 4,654 shares during the period. Aristeia Capital L.L.C.’s holdings in Summit Materials were worth $637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Summit Materials in the fourth quarter valued at about $704,000. Franklin Resources Inc. bought a new position in shares of Summit Materials in the 3rd quarter valued at about $7,359,000. Assenagon Asset Management S.A. grew its position in shares of Summit Materials by 1,436.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock worth $44,501,000 after buying an additional 822,222 shares during the period. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Summit Materials during the fourth quarter worth approximately $4,680,000. Finally, World Investment Advisors LLC acquired a new position in Summit Materials in the third quarter valued at approximately $457,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on SUM shares. Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. StockNews.com initiated coverage on Summit Materials in a research report on Monday, April 28th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.67.

Summit Materials Stock Performance

Shares of SUM stock opened at $52.54 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. Summit Materials, Inc. has a 52 week low of $34.64 and a 52 week high of $54.07. The company’s 50 day moving average price is $52.54 and its two-hundred day moving average price is $50.98. The company has a market capitalization of $9.23 billion, a P/E 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.