Rockefeller Capital Management L.P. Makes New Investment in Summit Materials, Inc. (NYSE:SUM)

Rockefeller Capital Management L.P. acquired a new stake in shares of Summit Materials, Inc. (NYSE:SUM) during the fourth quarter, Holdings Channel reports. The fund acquired 21,388 shares of the construction company’s stock, valued at approximately $1,082,000.

Several other large investors have also recently modified their holdings of the stock. Empowered Funds LLC bought a new position in Summit Materials during the 4th quarter worth approximately $25,000. Versant Capital Management Inc grew its holdings 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 purchasing an additional 353 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Summit Materials in the fourth quarter worth $56,000. R Squared Ltd bought a new stake in Summit Materials during the 4th quarter valued at $57,000. Finally, Covestor Ltd boosted its position in Summit Materials by 207.7% during the 4th quarter. Covestor Ltd now owns 1,831 shares of the construction company’s stock valued at $93,000 after buying an additional 1,236 shares during the period.

Summit Materials Stock Up 0.2 %

NYSE:SUM opened at $52.54 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. The firm’s 50-day moving average price is $52.54 and its 200-day moving average price is $50.25. The company has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a 1-year low of $34.64 and a 1-year high of $54.07.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SUM. Stephens downgraded shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. StockNews.com initiated coverage on Summit Materials in a report on Sunday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.67.

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.