American Century Companies Inc. Has $37.12 Million Stake in Summit Materials, Inc. (NYSE:SUM)

American Century Companies Inc. lifted its holdings in shares of Summit Materials, Inc. (NYSE:SUM – Free Report) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,303,953 shares of the construction company’s stock after buying an additional 137,913 shares during the quarter. American Century Companies Inc. owned about 1.10% of Summit Materials worth $37,117,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC grew its position in shares of Summit Materials by 2.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 13,185 shares of the construction company’s stock worth $374,000 after buying an additional 344 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Summit Materials by 2.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,302 shares of the construction company’s stock worth $378,000 after buying an additional 353 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Summit Materials by 1.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,577 shares of the construction company’s stock valued at $641,000 after purchasing an additional 377 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in Summit Materials by 5.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,413 shares of the construction company’s stock valued at $210,000 after purchasing an additional 415 shares during the period. Finally, Metropolitan Life Insurance Co NY grew its holdings in Summit Materials by 5.9% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,413 shares of the construction company’s stock valued at $210,000 after purchasing an additional 415 shares during the period.

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Summit Materials Stock Performance

Shares of SUM stock opened at $36.68 on Tuesday. The company’s fifty day simple moving average is $36.76 and its 200-day simple moving average is $32.25. The company has a quick ratio of 1.90, a current ratio of 2.61 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4.36 billion, a PE ratio of 26.06 and a beta of 1.44. Summit Materials, Inc. has a 12 month low of $23.19 and a 12 month high of $39.56.

Summit Materials (NYSE:SUM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The business had revenue of $680.40 million for the quarter, compared to analyst estimates of $642.59 million. Summit Materials had a net margin of 6.85% and a return on equity of 8.79%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Equities research analysts expect that Summit Materials, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays boosted their price objective on shares of Summit Materials from $28.00 to $31.00 in a report on Friday, May 5th. BNP Paribas cut shares of Summit Materials from an “outperform” rating to a “neutral” rating and set a $38.00 price objective for the company. in a report on Monday, July 24th. Stephens boosted their price objective on shares of Summit Materials from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Citigroup boosted their price objective on shares of Summit Materials from $35.00 to $43.00 and gave the company a “buy” rating in a report on Friday, July 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Summit Materials from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.77.

Read Our Latest Stock Report on SUM

Summit Materials Company Profile

(Free Report)

Summit Materials, Inc operates as a vertically integrated construction materials company. 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. It also provides asphalt paving and related services.

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