Zurcher Kantonalbank Zurich Cantonalbank Buys 1,842 Shares of Summit Materials, Inc. (NYSE:SUM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Summit Materials, Inc. (NYSE:SUM) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 38,516 shares of the construction company’s stock after purchasing an additional 1,842 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Summit Materials were worth $1,949,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SUM. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Summit Materials during the 4th quarter valued at $704,000. Franklin Resources Inc. bought a new stake in shares of Summit Materials during the 3rd quarter valued at $7,359,000. Assenagon Asset Management S.A. boosted its holdings in shares of Summit Materials by 1,436.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock valued at $44,501,000 after buying an additional 822,222 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Summit Materials by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 287,733 shares of the construction company’s stock valued at $11,230,000 after buying an additional 10,463 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Summit Materials by 3.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 731,995 shares of the construction company’s stock valued at $28,570,000 after buying an additional 27,225 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SUM shares. Longbow Research restated a “neutral” rating on shares of Summit Materials in a report on Tuesday, November 26th. Truist Financial restated a “hold” rating and set a $52.50 target price (down previously from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a research report on Monday, November 25th. StockNews.com began coverage on Summit Materials in a research report on Tuesday, March 11th. They issued a “sell” rating for the company. Finally, Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.67.

Summit Materials Price Performance

NYSE SUM opened at $52.54 on Monday. Summit Materials, Inc. has a 52 week low of $34.64 and a 52 week high of $54.07. The firm has a market capitalization of $9.23 billion, a P/E 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. The company has a 50-day moving average price of $52.36 and a 200-day moving average price of $47.49.

Summit Materials 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.