Summit Materials, Inc. (NYSE:SUM) Stock Holdings Lowered by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in shares of Summit Materials, Inc. (NYSE:SUM) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,207 shares of the construction company’s stock after selling 4,544 shares during the period. Corebridge Financial Inc.’s holdings in Summit Materials were worth $3,046,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Citigroup Inc. lifted its position in shares of Summit Materials by 166.4% during the 3rd quarter. Citigroup Inc. now owns 113,579 shares of the construction company’s stock valued at $4,433,000 after acquiring an additional 70,937 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Summit Materials by 11.5% during the third quarter. D.A. Davidson & CO. now owns 9,115 shares of the construction company’s stock valued at $356,000 after purchasing an additional 941 shares during the last quarter. FMR LLC boosted its position in shares of Summit Materials by 18.4% in the 3rd quarter. FMR LLC now owns 47,283 shares of the construction company’s stock valued at $1,845,000 after purchasing an additional 7,350 shares during the period. BNP Paribas Financial Markets increased its stake in Summit Materials by 9.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,731 shares of the construction company’s stock worth $1,199,000 after purchasing an additional 2,625 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 worth $11,230,000 after buying an additional 10,463 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on SUM. Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and decreased their target price for the stock from $58.00 to $52.50 in a report on Monday, December 16th. StockNews.com started coverage on shares of Summit Materials in a research report on Thursday, March 27th. They set a “sell” rating on the stock. Finally, Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.67.

Summit Materials Trading Up 0.2 %

Shares of NYSE SUM opened at $52.54 on Tuesday. The business has a 50 day simple moving average of $52.47 and a 200 day simple moving average of $48.65. Summit Materials, Inc. has a 52 week low of $34.64 and a 52 week high of $54.07. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10.

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.