Summit Materials, Inc. (NYSE:SUM) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lowered its stake in Summit Materials, Inc. (NYSE:SUM) by 45.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,295 shares of the construction company’s stock after selling 12,775 shares during the period. Natixis Advisors LLC’s holdings in Summit Materials were worth $774,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SUM. Intech Investment Management LLC bought a new stake in Summit Materials in the third quarter valued at about $1,097,000. Charles Schwab Investment Management Inc. lifted its holdings in Summit Materials by 21.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock worth $68,419,000 after buying an additional 313,957 shares during the last quarter. Citigroup Inc. grew its position in shares of Summit Materials by 166.4% in the 3rd quarter. Citigroup Inc. now owns 113,579 shares of the construction company’s stock worth $4,433,000 after acquiring an additional 70,937 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Summit Materials in the 3rd quarter valued at approximately $1,129,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Summit Materials by 3.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,232,524 shares of the construction company’s stock valued at $48,105,000 after acquiring an additional 45,467 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group downgraded shares of Summit Materials from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $58.00 to $52.50 in a report on Monday, December 16th. StockNews.com initiated coverage on shares of Summit Materials in a report on Thursday. They issued a “sell” rating for the company. Finally, Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Summit Materials currently has an average rating of “Hold” and a consensus price target of $50.67.

Summit Materials Stock Performance

Shares of NYSE SUM opened at $52.54 on Thursday. Summit Materials, Inc. has a 12-month low of $34.64 and a 12-month high of $54.07. The company has a market cap of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The stock has a 50 day simple moving average of $52.45 and a 200-day simple moving average of $48.22. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62.

Summit Materials Company 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.