Recurrent Investment Advisors LLC Invests $331,000 in Summit Materials, Inc. (NYSE:SUM)

Recurrent Investment Advisors LLC acquired a new stake in Summit Materials, Inc. (NYSE:SUM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,548 shares of the construction company’s stock, valued at approximately $331,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in Summit Materials in the 4th quarter valued at about $25,000. CoreFirst Bank & Trust acquired a new position in shares of Summit Materials in the fourth quarter valued at approximately $56,000. R Squared Ltd purchased a new position in shares of Summit Materials during the fourth quarter valued at approximately $57,000. Covestor Ltd boosted its position in Summit Materials by 207.7% during the fourth quarter. Covestor Ltd now owns 1,831 shares of the construction company’s stock worth $93,000 after acquiring an additional 1,236 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in Summit Materials by 827.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,866 shares of the construction company’s stock worth $196,000 after acquiring an additional 3,449 shares during the last quarter.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Summit Materials in a report on Wednesday. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, ten have issued 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 an average rating of “Hold” and a consensus target price of $50.67.

Summit Materials Price Performance

SUM stock opened at $52.54 on Thursday. The company has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $52.54 and a two-hundred day moving average price of $51.56. Summit Materials, Inc. has a 12-month low of $34.64 and a 12-month high of $54.07.

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.