Wolverine Asset Management LLC Purchases New Shares in Summit Materials, Inc. (NYSE:SUM)

Wolverine Asset Management LLC acquired a new position in shares of Summit Materials, Inc. (NYSE:SUM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,000 shares of the construction company's stock, valued at approximately $769,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AE Wealth Management LLC acquired a new position in shares of Summit Materials in the 3rd quarter valued at about $532,000. Linden Thomas Advisory Services LLC increased its holdings in shares of Summit Materials by 14.8% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 7,549 shares of the construction company's stock valued at $235,000 after purchasing an additional 973 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Summit Materials by 58.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 34,886 shares of the construction company's stock valued at $1,086,000 after purchasing an additional 12,911 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Summit Materials by 9.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,538 shares of the construction company's stock valued at $266,000 after purchasing an additional 734 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Summit Materials by 96.5% in the 3rd quarter. Raymond James & Associates now owns 159,926 shares of the construction company's stock valued at $4,980,000 after purchasing an additional 78,544 shares during the period.

Summit Materials Stock Performance

Shares of SUM traded up $0.63 during mid-day trading on Friday, hitting $40.00. The company's stock had a trading volume of 534,449 shares, compared to its average volume of 959,861. Summit Materials, Inc. has a one year low of $26.43 and a one year 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 firm has a market capitalization of $6.97 billion, a PE ratio of 16.54 and a beta of 1.32. The stock's 50-day moving average is $41.89 and its two-hundred day moving average is $37.81.

Summit Materials (NYSE:SUM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Summit Materials had a return on equity of 8.73% and a net margin of 10.91%. The company had revenue of $613.13 million during the quarter, compared to analysts' expectations of $560.90 million. During the same period in the prior year, the business earned $0.32 earnings per share. Summit Materials's revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Summit Materials, Inc. will post 2.28 EPS for the current year.

Analysts Set New Price Targets

SUM has been the topic of a number of research reports. Truist Financial upped their target price on Summit Materials from $50.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. Barclays boosted their price target on Summit Materials from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, March 14th. Citigroup boosted their price target on Summit Materials from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, April 5th. Stephens reissued an "overweight" rating and issued a $45.00 price target on shares of Summit Materials in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. started coverage on Summit Materials in a research note on Friday, February 23rd. They issued an "overweight" rating and a $47.00 price target for the company. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $46.09.

Summit Materials Company Profile

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.