Dimensional Fund Advisors LP Sells 77,813 Shares of Summit Materials, Inc. (NYSE:SUM)

Dimensional Fund Advisors LP lessened its holdings in shares of Summit Materials, Inc. (NYSE:SUM - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,458,814 shares of the construction company's stock after selling 77,813 shares during the period. Dimensional Fund Advisors LP owned 4.57% of Summit Materials worth $209,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Summit Materials by 1.2% in the third quarter. Vanguard Group Inc. now owns 11,925,288 shares of the construction company's stock valued at $371,353,000 after acquiring an additional 136,921 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Summit Materials by 130.6% during the 3rd 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 position in shares of Summit Materials by 2.1% during the 3rd 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 period. FMR LLC raised its stake in shares of Summit Materials by 22.6% in the 3rd quarter. FMR LLC now owns 3,880,931 shares of the construction company's stock worth $120,852,000 after buying an additional 714,379 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Summit Materials by 1.1% in the third quarter. Clearbridge Investments LLC now owns 3,061,137 shares of the construction company's stock valued at $95,324,000 after buying an additional 34,100 shares during the period.

Analyst Ratings Changes

Several equities research analysts have commented on SUM shares. Wolfe Research upgraded shares of Summit Materials from a "peer perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a research report on Wednesday. The Goldman Sachs Group increased their target price on shares of Summit Materials from $43.00 to $49.00 and gave the company a "neutral" rating in a research note on Thursday, March 14th. Royal Bank of Canada upped their price target on Summit Materials from $44.00 to $46.00 and gave the company a "sector perform" rating in a report on Friday, May 3rd. Citigroup increased their price objective on Summit Materials from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, April 5th. Finally, StockNews.com lowered Summit Materials from a "hold" rating to a "sell" rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $46.92.

Insider Buying and Selling

In other Summit Materials news, insider Jason Kilgore sold 50,589 shares of the business's stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $40.21, for a total value of $2,034,183.69. Following the completion of the sale, the insider now owns 60,630 shares of the company's stock, valued at $2,437,932.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

Summit Materials Stock Up 3.4 %

Summit Materials stock traded up $1.39 during mid-day trading on Wednesday, hitting $42.12. The company's stock had a trading volume of 989,595 shares, compared to its average volume of 979,668. The company has a market cap of $7.39 billion, a PE ratio of 18.81 and a beta of 1.34. Summit Materials, Inc. has a 52-week low of $29.98 and a 52-week high of $44.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.58 and a quick ratio of 1.93. The firm's 50 day moving average is $41.32 and its 200 day moving average is $38.54.

Summit Materials (NYSE:SUM - Get Free Report) last issued its earnings results on Wednesday, May 1st. The construction company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.11. The company had revenue of $773.23 million for the quarter, compared to analyst estimates of $803.98 million. Summit Materials had a return on equity of 7.33% and a net margin of 8.36%. The business's revenue was up 89.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.26) EPS. On average, analysts anticipate that Summit Materials, Inc. will post 2.15 earnings per share for the current year.

Summit Materials 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.