Amica Retiree Medical Trust Cuts Stock Holdings in Summit Materials, Inc. (NYSE:SUM)

Amica Retiree Medical Trust lessened its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 28.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,432 shares of the construction company’s stock after selling 1,367 shares during the period. Amica Retiree Medical Trust’s holdings in Summit Materials were worth $174,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SUM. Empowered Funds LLC acquired a new position in Summit Materials during the fourth quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Summit Materials in the third quarter valued at approximately $28,000. Versant Capital Management Inc lifted its stake in shares of Summit Materials by 179.2% during the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after buying an additional 353 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Summit Materials during the third quarter worth approximately $53,000. Finally, CoreFirst Bank & Trust purchased a new stake in Summit Materials in the 4th quarter worth approximately $56,000.

Summit Materials Price Performance

Shares of NYSE SUM opened at $52.54 on Thursday. The business has a 50 day moving average price of $52.45 and a two-hundred day moving average price of $48.22. Summit Materials, Inc. has a fifty-two week low of $34.64 and a fifty-two week high of $54.07. The firm has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lowered Summit Materials from a “buy” rating to a “hold” rating and reduced their price objective for the company from $58.00 to $52.50 in a research note on Monday, December 16th. StockNews.com started coverage on shares of Summit Materials in a research note on Thursday. They issued a “sell” rating on the stock. Finally, Stephens cut shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Summit Materials has an average rating of “Hold” and an average price target 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.