Lindbrook Capital LLC holds $107,000 worth of shares in Summit Materials, Inc. (NYSE:SUM)
Lindbrook Capital LLC reduced its position in shares of Summit Materials, Inc. (NYSE: SUM – Get an assessment) by 22.3% in the 1st quarter, Participation channel reports. The company held 3,434 shares of the construction company after selling 985 shares during the quarter. Lindbrook Capital LLC’s holdings in Summit Materials were worth $107,000 when it last filed with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently increased or reduced their stake in SUM. UMB Bank NA MO purchased a new stake in shares of Summit Materials during Q4 for a value of approximately $35,000. Lazard Asset Management LLC bought a new stake in Summit Materials in Q4, valued at around $47,000. Point72 Hong Kong Ltd bought a new stake in Summit Materials in Q4, valued at around $77,000. Northwestern Mutual Wealth Management Co. increased its holdings in Summit Materials by 174.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,898 shares of the construction company valued at $156,000 after purchasing an additional 2,479 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in Summit Materials in Q4, valued at around $201,000.
Stock SUM opened at $23.08 on Monday. The company has a 50-day simple moving average of $26.22 and a 200-day simple moving average of $31.11. The stock has a market capitalization of $2.73 billion, a price-earnings ratio of 19.56 and a beta of 1.33. Summit Materials, Inc. has a 1-year low of $22.01 and a 1-year high of $41.46. The company has a debt ratio of 0.91, a current ratio of 2.55 and a quick ratio of 1.94.
Top Materials (NYSE: SUM – Get an assessment) last reported quarterly results on Wednesday, May 4. The construction company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Summit Materials had a net margin of 5.84% and a return on equity of 7.02%. The company posted revenue of $392.50 million in the quarter, compared to analyst estimates of $395.55 million. In the same quarter last year, the company posted ($0.33) earnings per share. The company’s revenue decreased by 1.5% compared to the same quarter last year. On average, equity research analysts expect Summit Materials, Inc. to post EPS of 1.48 for the current fiscal year.
A number of analysts have released reports on the stock. DA Davidson cut its price target on Summit Materials shares from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a Friday, May 13 report. Morgan Stanley cut its price target on Summit Materials shares from $42.00 to $41.00 and set an “equal weight” rating for the company in a Monday, April 18 report. Royal Bank of Canada downgraded shares of Summit Materials from a “sector performance” rating to an “outperform” rating and lowered its price target for the stock from $33.00 to $31.00 in a report on Wednesday, June 22. Finally, Goldman Sachs Group cut its price target on Summit Materials shares from $34.00 to $30.00 and set a “neutral” rating for the company in a Thursday, June 23 report. One equity research analyst gave the stock a sell rating, four issued a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.29.
Summit Materials Profile (Get an assessment)
Summit Materials, Inc., through its subsidiaries, produces and sells building materials and related downstream products for public infrastructure and residential and non-residential end markets. It operates through three segments: West, East and Cement. The Company’s products include aggregates, cement, ready-mixed concrete, asphalt mixes and concrete products, as well as plastic components.
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