Silvercrest Asset Management Group LLC Has $8.95 Million Stock Position in Summit Materials, Inc. (NYSE:SUM)

Silvercrest Asset Management Group LLC reduced its stake in Summit Materials, Inc. (NYSE:SUM) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,797 shares of the construction company’s stock after selling 638 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.10% of Summit Materials worth $8,946,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mariner LLC grew its position in shares of Summit Materials by 2.3% in the fourth quarter. Mariner LLC now owns 8,641 shares of the construction company’s stock valued at $437,000 after purchasing an additional 196 shares during the last quarter. Arizona State Retirement System boosted its stake in Summit Materials by 0.9% in the 4th quarter. Arizona State Retirement System now owns 35,671 shares of the construction company’s stock valued at $1,805,000 after purchasing an additional 304 shares during the period. Synovus Financial Corp grew its holdings in Summit Materials by 1.6% in the 4th quarter. Synovus Financial Corp now owns 28,689 shares of the construction company’s stock valued at $1,452,000 after buying an additional 445 shares in the last quarter. Empowered Funds LLC bought a new position in Summit Materials during the 4th quarter worth $25,000. Finally, Alliance Wealth Advisors LLC UT lifted its holdings in shares of Summit Materials by 3.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 18,263 shares of the construction company’s stock worth $924,000 after buying an additional 611 shares in the last quarter.

Summit Materials Trading Up 0.2%

SUM opened at $52.54 on Monday. The stock has a market capitalization of $9.23 billion, a price-to-earnings 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. Summit Materials, Inc. has a twelve month low of $34.64 and a twelve month high of $54.07. The company has a 50-day simple moving average of $52.54 and a 200 day simple moving average of $51.72.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Summit Materials in a research report on Wednesday, May 14th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Summit Materials currently has an average rating of “Hold” and a consensus target price of $50.82.

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.