Boston Partners Invests $2.34 Million in Summit Materials, Inc. (NYSE:SUM)

Boston Partners bought a new stake in shares of Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, Holdings Channel.com reports. The firm bought 46,197 shares of the construction company’s stock, valued at approximately $2,338,000.

Several other institutional investors and hedge funds have also bought and sold shares of SUM. Empowered Funds LLC bought a new stake in Summit Materials in the fourth quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Summit Materials in the third quarter worth $28,000. Versant Capital Management Inc increased its stake in shares of Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after buying an additional 353 shares during the period. Point72 Hong Kong Ltd bought a new stake in Summit Materials during the 3rd quarter valued at $53,000. Finally, R Squared Ltd purchased a new stake in Summit Materials during the 4th quarter valued at $57,000.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SUM. Royal Bank of Canada restated a “sector perform” rating and issued a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research report on Monday, November 25th. Longbow Research restated a “neutral” rating on shares of Summit Materials in a report on Tuesday, November 26th. Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Truist Financial reiterated a “hold” rating and issued a $52.50 price objective (down from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, Loop Capital restated a “hold” rating and set a $52.50 target price (down previously from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $50.67.

Summit Materials Trading Up 0.2 %

NYSE SUM opened at $52.54 on Friday. The firm has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The stock’s 50 day moving average is $52.43 and its 200 day moving average is $47.82. Summit Materials, Inc. has a twelve month low of $34.64 and a twelve month high of $54.07. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62.

About Summit Materials

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.