John G Ullman & Associates Inc. Sells 1,301 Shares of Summit Materials, Inc. (NYSE:SUM)

John G Ullman & Associates Inc. decreased its stake in Summit Materials, Inc. (NYSE:SUM) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 108,873 shares of the construction company’s stock after selling 1,301 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Summit Materials were worth $4,249,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SUM. V Square Quantitative Management LLC acquired a new position in shares of Summit Materials during the third quarter worth $27,000. Toth Financial Advisory Corp grew its position in 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 acquiring an additional 500 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Summit Materials by 3,804.2% in the third quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock valued at $37,000 after buying an additional 913 shares during the period. Quest Partners LLC bought a new position in Summit Materials in the 2nd quarter valued at approximately $40,000. Finally, Farther Finance Advisors LLC boosted its position in Summit Materials by 275.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock worth $51,000 after buying an additional 951 shares during the period.

Summit Materials Stock Up 0.0 %

Shares of NYSE SUM opened at $48.41 on Thursday. The stock has a market capitalization of $8.50 billion, a P/E ratio of 59.04 and a beta of 1.14. 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, Inc. has a one year low of $33.93 and a one year high of $51.74. The firm’s 50 day simple moving average is $42.49 and its two-hundred day simple moving average is $39.81.

Summit Materials (NYSE:SUM) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.17 billion. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The company’s revenue was up 49.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, analysts expect that Summit Materials, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SUM has been the subject of several analyst reports. StockNews.com lowered Summit Materials from a “hold” rating to a “sell” rating in a research report on Wednesday. Jefferies Financial Group cut their price objective on Summit Materials from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley assumed coverage on shares of Summit Materials in a research report on Monday, August 26th. They set an “overweight” rating and a $51.00 target price for the company. Loop Capital boosted their target price on shares of Summit Materials from $49.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Citigroup lowered their price objective on Summit Materials from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Summit Materials currently has an average rating of “Moderate Buy” and an average price target of $50.38.

About Summit Materials

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.