Jackson Creek Investment Advisors LLC Purchases Shares of 26,670 Summit Materials, Inc. (NYSE:SUM)

Jackson Creek Investment Advisors LLC acquired a new stake in shares of Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 26,670 shares of the construction company’s stock, valued at approximately $1,026,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Knights of Columbus Asset Advisors LLC grew its holdings in shares of Summit Materials by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 192,349 shares of the construction company’s stock worth $7,398,000 after purchasing an additional 93,487 shares during the period. River Road Asset Management LLC grew its stake in Summit Materials by 6.8% during the fourth quarter. River Road Asset Management LLC now owns 1,727,475 shares of the construction company’s stock worth $66,439,000 after buying an additional 109,985 shares during the period. Harvey Capital Management Inc. acquired a new stake in shares of Summit Materials in the fourth quarter worth $1,167,000. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 136,921 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Summit Materials during the 4th quarter worth $769,000.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup raised 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. Royal Bank of Canada upped their price objective on Summit Materials from $39.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. assumed coverage on shares of Summit Materials in a research note on Friday, February 23rd. They set an “overweight” rating and a $47.00 target price for the company. 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 report on Thursday, March 14th. Finally, Barclays boosted their price target on shares of Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.09.

Summit Materials Trading Down 3.1 %

Shares of Summit Materials stock traded down $1.23 during trading on Tuesday, hitting $38.90. The stock had a trading volume of 1,132,227 shares, compared to its average volume of 961,023. The stock has a 50 day simple moving average of $41.84 and a 200 day simple moving average of $37.98. Summit Materials, Inc. has a 1 year low of $27.20 and a 1 year high of $44.89. The company has a quick ratio of 4.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $6.78 billion, a PE ratio of 16.86 and a beta of 1.32.

Summit Materials (NYSE:SUM) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $560.90 million. During the same quarter in the previous year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, research analysts expect that Summit Materials, Inc. will post 2.23 EPS for the current fiscal year.

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.