Thrivent Financial for Lutherans grew its holdings in shares of Summit Materials, Inc. (NYSE:SUM - Free Report) by 3.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 731,995 shares of the construction company's stock after purchasing an additional 27,225 shares during the period. Thrivent Financial for Lutherans owned approximately 0.42% of Summit Materials worth $28,570,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Summit Materials during the third quarter valued at $27,000. Toth Financial Advisory Corp boosted its stake in Summit Materials by 147.1% during the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company's stock valued at $33,000 after buying an additional 500 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Summit Materials by 3,804.2% during the third quarter. International Assets Investment Management LLC now owns 937 shares of the construction company's stock valued at $37,000 after buying an additional 913 shares in the last quarter. Quest Partners LLC bought a new position in Summit Materials during the second quarter valued at about $40,000. Finally, Farther Finance Advisors LLC boosted its stake in Summit Materials by 275.7% during the third quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company's stock valued at $51,000 after buying an additional 951 shares in the last quarter.
Shares of NYSE SUM opened at $48.38 on Wednesday. Summit Materials, Inc. has a one year low of $33.73 and a one year high of $51.74. The firm has a market capitalization of $8.50 billion, a PE ratio of 59.01 and a beta of 1.14. 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 business has a 50-day moving average price of $42.00 and a two-hundred day moving average price of $39.69.
Summit Materials (NYSE:SUM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $0.81 EPS. The business's quarterly revenue was up 49.9% compared to the same quarter last year. As a group, analysts predict that Summit Materials, Inc. will post 1.64 earnings per share for the current fiscal year.
Several brokerages recently weighed in on SUM. Barclays raised Summit Materials from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $45.00 to $52.00 in a research note on Tuesday, October 29th. DA Davidson raised their target price on Summit Materials from $41.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Morgan Stanley began coverage on Summit Materials in a research note on Monday, August 26th. They set an "overweight" rating and a $51.00 target price for the company. Jefferies Financial Group decreased their target price on Summit Materials from $58.00 to $56.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Finally, Citigroup decreased their price target on Summit Materials from $47.00 to $46.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.38.
View Our Latest Stock Report on 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.
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