Amica Mutual Insurance Co. Invests $1.24 Million in Summit Materials, Inc. (NYSE:SUM)

Amica Mutual Insurance Co. bought a new stake in shares of Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, Holdings Channel.com reports. The firm bought 32,251 shares of the construction company’s stock, valued at approximately $1,240,000.

Other hedge funds have also recently bought and sold shares of the company. Alliance Wealth Advisors LLC UT grew its stake in shares of Summit Materials by 3.7% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 13,131 shares of the construction company’s stock worth $505,000 after purchasing an additional 465 shares during the last quarter. Valmark Advisers Inc. increased its holdings in shares of Summit Materials by 29.4% in the fourth quarter. Valmark Advisers Inc. now owns 23,781 shares of the construction company’s stock valued at $915,000 after buying an additional 5,398 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Summit Materials during the 4th quarter valued at $308,000. Rather & Kittrell Inc. bought a new stake in shares of Summit Materials during the 4th quarter worth $231,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of Summit Materials during the 4th quarter worth $769,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SUM. Citigroup boosted their target price on Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada upped their price objective on shares of Summit Materials from $39.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, March 14th. Barclays lifted their target price on shares of Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. began coverage on shares of Summit Materials in a research report on Friday, February 23rd. They issued an “overweight” rating and a $47.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Summit Materials presently has an average rating of “Moderate Buy” and an average target price of $46.09.

Summit Materials Stock Up 0.3 %

Shares of NYSE:SUM traded up $0.13 during trading on Monday, reaching $40.13. 884,022 shares of the company traded hands, compared to its average volume of 958,936. Summit Materials, Inc. has a 1-year low of $27.20 and a 1-year high of $44.89. The company has a quick ratio of 4.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.99. The firm has a market cap of $6.99 billion, a P/E ratio of 16.86 and a beta of 1.32. The firm has a fifty day simple moving average of $41.84 and a 200 day simple moving average of $37.98.

Summit Materials (NYSE:SUM) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Summit Materials had a return on equity of 8.73% and a net margin of 10.91%. The firm had revenue of $613.13 million during the quarter, compared to analysts’ expectations of $560.90 million. During the same quarter last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. Analysts anticipate that Summit Materials, Inc. will post 2.23 earnings per share 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.