Amica Mutual Insurance Co. Acquires Shares of 32,251 Summit Materials, Inc. (NYSE:SUM)

Amica Mutual Insurance Co. bought a new position in shares of Summit Materials, Inc. (NYSE:SUM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 32,251 shares of the construction company’s stock, valued at approximately $1,240,000.

A number of other large investors have also modified their holdings of SUM. Vanguard Group Inc. boosted its position in Summit Materials by 1.2% during the third quarter. Vanguard Group Inc. now owns 11,925,288 shares of the construction company’s stock worth $371,353,000 after acquiring an additional 136,921 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Summit Materials by 130.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,512,959 shares of the construction company’s stock valued at $171,674,000 after purchasing an additional 3,122,575 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Summit Materials by 2.1% in the third quarter. Principal Financial Group Inc. now owns 5,251,061 shares of the construction company’s stock valued at $163,518,000 after purchasing an additional 105,796 shares during the last quarter. FMR LLC increased its holdings in shares of Summit Materials by 22.6% in the third quarter. FMR LLC now owns 3,880,931 shares of the construction company’s stock valued at $120,852,000 after purchasing an additional 714,379 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Summit Materials by 1.1% during the third quarter. Clearbridge Investments LLC now owns 3,061,137 shares of the construction company’s stock worth $95,324,000 after buying an additional 34,100 shares in the last quarter.

Summit Materials Trading Up 0.3 %

Shares of NYSE SUM traded up $0.13 during trading on Monday, reaching $40.13. The stock had a trading volume of 884,022 shares, compared to its average volume of 958,936. The business’s 50-day moving average price is $41.84 and its 200-day moving average price is $37.98. Summit Materials, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $44.89. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.62 and a current ratio of 5.36. The company has a market cap of $6.99 billion, a P/E ratio of 16.86 and a beta of 1.32.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. The company had revenue of $613.13 million for the quarter, compared to analyst estimates of $560.90 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, equities research analysts predict that Summit Materials, Inc. will post 2.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup upped their target price on Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, April 5th. The Goldman Sachs Group raised their price objective on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Royal Bank of Canada increased their price target on shares of Summit Materials from $39.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. began coverage on shares of Summit Materials in a research report on Friday, February 23rd. They set an “overweight” rating and a $47.00 price target on the stock. Finally, Barclays increased their price objective on Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Summit Materials has an average rating of “Moderate Buy” and an average target price of $46.09.

About 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.