Janus Henderson Group PLC Grows Holdings in Summit Materials, Inc. (NYSE:SUM)

Janus Henderson Group PLC increased its position in Summit Materials, Inc. (NYSE:SUM) by 11.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,096,383 shares of the construction company’s stock after acquiring an additional 324,902 shares during the quarter. Janus Henderson Group PLC owned about 1.76% of Summit Materials worth $156,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUM. Empowered Funds LLC purchased a new position in shares of Summit Materials during the 4th quarter valued at $25,000. CoreFirst Bank & Trust purchased a new stake in shares of Summit Materials during the fourth quarter worth about $56,000. R Squared Ltd purchased a new stake in shares of Summit Materials during the fourth quarter worth about $57,000. Covestor Ltd grew its position in shares of Summit Materials by 207.7% during the fourth quarter. Covestor Ltd now owns 1,831 shares of the construction company’s stock worth $93,000 after purchasing an additional 1,236 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of Summit Materials by 827.1% during the fourth 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 in the last quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Summit Materials in a research report on Tuesday, May 6th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Summit Materials has a consensus rating of “Hold” and a consensus price target of $50.67.

Summit Materials Stock Up 0.2%

Shares of SUM opened at $52.54 on Tuesday. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a 1 year low of $34.64 and a 1 year high of $54.07. The business’s 50 day simple moving average is $52.54 and its 200-day simple moving average is $51.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48.

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.