Maven Securities LTD Buys New Position in Summit Materials, Inc. (NYSE:SUM)

Maven Securities LTD bought a new stake in Summit Materials, Inc. (NYSE:SUM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 35,000 shares of the construction company’s stock, valued at approximately $1,771,000.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Summit Materials by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,373,001 shares of the construction company’s stock valued at $626,074,000 after acquiring an additional 56,602 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Summit Materials by 11.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,096,383 shares of the construction company’s stock valued at $156,682,000 after buying an additional 324,902 shares during the last quarter. TIG Advisors LLC purchased a new position in Summit Materials during the fourth quarter worth $105,181,000. FIL Ltd acquired a new position in shares of Summit Materials in the fourth quarter worth $95,128,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Summit Materials by 293.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,863,463 shares of the construction company’s stock worth $94,291,000 after acquiring an additional 1,389,955 shares during the last quarter.

Summit Materials Stock Up 0.2%

Shares of Summit Materials stock opened at $52.54 on Tuesday. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. Summit Materials, Inc. has a twelve month low of $34.64 and a twelve month high of $54.07. The company has a fifty day moving average price of $52.54 and a 200 day moving average price of $51.55.

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 analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.