Leuthold Group LLC Has $4.42 Million Stake in Summit Materials, Inc. (NYSE:SUM)

Leuthold Group LLC reduced its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,175 shares of the construction company’s stock after selling 4,207 shares during the period. Leuthold Group LLC’s holdings in Summit Materials were worth $4,417,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Summit Materials during the 3rd quarter valued at about $27,000. Toth Financial Advisory Corp grew its position in shares of Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after buying an additional 500 shares during the period. International Assets Investment Management LLC increased its stake in shares of Summit Materials by 3,804.2% in the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock valued at $37,000 after acquiring an additional 913 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Summit Materials during the 2nd quarter valued at $40,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Summit Materials during the first quarter worth $102,000.

Summit Materials Trading Up 4.2 %

NYSE SUM opened at $45.10 on Monday. The company has a current ratio of 2.62, a quick ratio of 2.01 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $38.93 and a 200 day simple moving average of $38.71. Summit Materials, Inc. has a 12 month low of $30.83 and a 12 month high of $46.20. The firm has a market capitalization of $7.92 billion, a P/E ratio of 21.07 and a beta of 1.17.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.14 billion. Summit Materials had a return on equity of 7.00% and a net margin of 8.06%. Summit Materials’s quarterly revenue was up 58.1% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. On average, analysts predict that Summit Materials, Inc. will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SUM. Stephens reiterated an “overweight” rating and set a $47.00 price objective on shares of Summit Materials in a report on Tuesday, August 6th. Truist Financial dropped their price target on Summit Materials from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Citigroup reduced their price objective on Summit Materials from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Royal Bank of Canada raised Summit Materials from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $45.00 to $53.00 in a research report on Friday. Finally, JPMorgan Chase & Co. cut their target price on Summit Materials from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.83.

Summit Materials Profile

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.