Moors & Cabot Inc. Makes New Investment in Summit Materials, Inc. (NYSE:SUM)

Moors & Cabot Inc. bought a new position in Summit Materials, Inc. (NYSE:SUMFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,181 shares of the construction company’s stock, valued at approximately $262,000.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in Summit Materials in the fourth quarter worth $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Summit Materials in the third quarter worth $28,000. Versant Capital Management Inc boosted its holdings in Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after acquiring an additional 353 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Summit Materials in the third quarter worth $53,000. Finally, R Squared Ltd purchased a new position in shares of Summit Materials in the fourth quarter worth $57,000.

Summit Materials Stock Up 0.2 %

Summit Materials stock opened at $52.54 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The stock has a fifty day moving average of $52.36 and a 200 day moving average of $47.49. The stock has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a one year low of $34.64 and a one year high of $54.07.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SUM. Truist Financial restated a “hold” rating and issued a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Longbow Research restated a “neutral” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Wolfe Research restated a “peer perform” rating on shares of Summit Materials in a research note on Tuesday, November 26th. StockNews.com began coverage on Summit Materials in a research note on Tuesday, March 11th. They issued a “sell” rating for the company. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Summit Materials presently has a consensus rating of “Hold” and a consensus target price of $50.67.

Read Our Latest Stock Analysis on Summit Materials

About Summit Materials

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Summit Materials (NYSE:SUM)

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