Knights of Columbus Asset Advisors LLC Has $7.40 Million Stock Position in Summit Materials, Inc. (NYSE:SUM)

Knights of Columbus Asset Advisors LLC grew its stake in Summit Materials, Inc. (NYSE:SUM - Free Report) by 94.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,349 shares of the construction company's stock after buying an additional 93,487 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.16% of Summit Materials worth $7,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. River Road Asset Management LLC boosted its holdings in shares of Summit Materials by 6.8% during the 4th quarter. River Road Asset Management LLC now owns 1,727,475 shares of the construction company's stock valued at $66,439,000 after acquiring an additional 109,985 shares during the last quarter. Harvey Capital Management Inc. bought a new stake in Summit Materials during the 4th quarter worth approximately $1,167,000. Vanguard Group Inc. grew its holdings in Summit Materials by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 11,925,288 shares of the construction company's stock valued at $371,353,000 after buying an additional 136,921 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Summit Materials during the 3rd quarter valued at approximately $855,000. Finally, Oliver Luxxe Assets LLC grew its holdings in shares of Summit Materials by 26.2% in the third quarter. Oliver Luxxe Assets LLC now owns 82,361 shares of the construction company's stock valued at $2,565,000 after purchasing an additional 17,101 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently weighed in on SUM shares. Royal Bank of Canada lifted their target price on Summit Materials from $39.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 14th. Stephens reissued an "overweight" rating and issued a $45.00 price objective on shares of Summit Materials in a research note on Tuesday, February 13th. The Goldman Sachs Group upped their target price on Summit Materials from $43.00 to $49.00 and gave the company a "neutral" rating in a report on Thursday, March 14th. Truist Financial increased their price target on Summit Materials from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. assumed coverage on Summit Materials in a report on Friday, February 23rd. They set an "overweight" rating and a $47.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.09.

Summit Materials Stock Performance

Shares of NYSE:SUM traded down $0.18 during trading on Friday, reaching $38.29. The company had a trading volume of 1,001,210 shares, compared to its average volume of 975,683. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 16.16 and a beta of 1.32. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.36 and a quick ratio of 4.62. The stock's fifty day moving average price is $41.80 and its 200 day moving average price is $37.57. Summit Materials, Inc. has a fifty-two week low of $26.18 and a fifty-two week high of $44.89.

Summit Materials (NYSE:SUM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.04. Summit Materials had a return on equity of 8.73% and a net margin of 10.91%. The firm had revenue of $613.13 million for the quarter, compared to analyst estimates of $560.90 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. Summit Materials's quarterly revenue was up 19.8% on a year-over-year basis. As a group, equities research analysts predict that Summit Materials, Inc. will post 2.28 EPS for the current year.

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.