Nomura Holdings Inc. Purchases 22,341 Shares of Summit Materials, Inc. (NYSE:SUM)

Nomura Holdings Inc. grew its position in shares of Summit Materials, Inc. (NYSE:SUM) by 81.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,782 shares of the construction company’s stock after purchasing an additional 22,341 shares during the quarter. Nomura Holdings Inc.’s holdings in Summit Materials were worth $1,915,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Signaturefd LLC grew its position in Summit Materials by 110.3% during the fourth quarter. Signaturefd LLC now owns 654 shares of the construction company’s stock valued at $25,000 after acquiring an additional 343 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Summit Materials by 113.7% in the 4th quarter. Parallel Advisors LLC now owns 750 shares of the construction company’s stock valued at $29,000 after purchasing an additional 399 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Summit Materials during the 3rd quarter valued at $54,000. Quadrant Capital Group LLC raised its position in Summit Materials by 25.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,902 shares of the construction company’s stock worth $73,000 after purchasing an additional 382 shares during the period. Finally, TFO Wealth Partners LLC lifted its stake in Summit Materials by 45,250.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,721 shares of the construction company’s stock worth $105,000 after purchasing an additional 2,715 shares during the last quarter.

Insider Transactions at Summit Materials

In other Summit Materials news, insider Jason Kilgore sold 50,589 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $40.21, for a total transaction of $2,034,183.69. Following the completion of the transaction, the insider now owns 60,630 shares of the company’s stock, valued at $2,437,932.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SUM. Truist Financial boosted their target price on Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. began coverage on Summit Materials in a research note on Friday, February 23rd. They set an “overweight” rating and a $47.00 price objective for the company. Citigroup lifted their target price on shares of Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Royal Bank of Canada increased their price target on shares of Summit Materials from $44.00 to $46.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Finally, Barclays boosted their price objective on shares of Summit Materials from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.92.

Summit Materials Stock Performance

Shares of SUM opened at $37.01 on Wednesday. The company has a 50-day simple moving average of $39.24 and a two-hundred day simple moving average of $39.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.58 and a quick ratio of 1.93. The firm has a market capitalization of $6.49 billion, a PE ratio of 16.52 and a beta of 1.27. Summit Materials, Inc. has a one year low of $29.98 and a one year high of $44.89.

Summit Materials (NYSE:SUM) last released its earnings results on Wednesday, May 1st. The construction company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. The company had revenue of $773.23 million during the quarter, compared to analysts’ expectations of $803.98 million. Summit Materials had a return on equity of 7.33% and a net margin of 8.36%. The firm’s revenue for the quarter was up 89.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.26) EPS. On average, analysts anticipate that Summit Materials, Inc. will post 2.1 EPS for the current fiscal year.

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.