FORA Capital LLC Acquires New Position in Summit Materials, Inc. (NYSE:SUM)

FORA Capital LLC bought a new stake in shares of Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 46,165 shares of the construction company’s stock, valued at approximately $2,336,000.

Several other institutional investors have also recently added to or reduced their stakes in SUM. Empowered Funds LLC acquired a new position in Summit Materials during the fourth quarter worth approximately $25,000. CoreFirst Bank & Trust bought a new position in Summit Materials during the 4th quarter valued at $56,000. R Squared Ltd bought a new position in Summit Materials during the 4th quarter worth approximately $57,000. Covestor Ltd boosted its holdings in shares of Summit Materials by 207.7% in the 4th quarter. Covestor Ltd now owns 1,831 shares of the construction company’s stock valued at $93,000 after buying an additional 1,236 shares during the period. Finally, Sterling Capital Management LLC raised its position in shares of Summit Materials by 827.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,866 shares of the construction company’s stock worth $196,000 after purchasing an additional 3,449 shares during the period.

Summit Materials Trading Up 0.2 %

NYSE:SUM opened at $52.54 on Friday. 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, Inc. has a 1-year low of $34.64 and a 1-year high of $54.07. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. The stock has a fifty day simple moving average of $52.54 and a 200 day simple moving average of $51.28.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Summit Materials in a research report on Tuesday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.67.

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.