Vaughan Nelson Investment Management L.P. Has $39.83 Million Stake in Summit Materials Inc (SUM)

Vaughan Nelson Investment Management L.P. lowered its position in shares of Summit Materials Inc (NYSE:SUM) by 5.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,315,220 shares of the construction company’s stock after selling 70,490 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Summit Materials were worth $39,825,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of Summit Materials during the fourth quarter worth approximately $23,885,000. Jennison Associates LLC grew its position in shares of Summit Materials by 11.9% during the fourth quarter. Jennison Associates LLC now owns 5,810,726 shares of the construction company’s stock worth $182,689,000 after buying an additional 617,054 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of Summit Materials by 45.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,700,283 shares of the construction company’s stock worth $53,457,000 after buying an additional 527,632 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Summit Materials by 26.1% during the first quarter. Victory Capital Management Inc. now owns 2,022,306 shares of the construction company’s stock worth $61,236,000 after buying an additional 418,738 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Summit Materials by 5.3% during the fourth quarter. BlackRock Inc. now owns 7,056,682 shares of the construction company’s stock worth $221,864,000 after buying an additional 355,922 shares in the last quarter.

In other news, CEO Thomas W. Hill sold 6,300 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.04, for a total transaction of $201,852.00. Following the completion of the transaction, the chief executive officer now owns 152,846 shares of the company’s stock, valued at $4,897,185.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anne Lee Benedict sold 26,167 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.32, for a total transaction of $845,717.44. Following the transaction, the insider now directly owns 27,258 shares of the company’s stock, valued at approximately $880,978.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 595,426 shares of company stock valued at $18,461,008. Corporate insiders own 1.50% of the company’s stock.

A number of analysts have recently weighed in on SUM shares. Goldman Sachs Group raised shares of Summit Materials from a “neutral” rating to a “buy” rating in a research report on Monday, February 26th. Citigroup raised their price target on shares of Summit Materials from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Zacks Investment Research downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Royal Bank of Canada set a $37.00 price objective on shares of Summit Materials and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, Deutsche Bank lifted their price objective on shares of Summit Materials from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $33.50.

Summit Materials stock opened at $28.75 on Thursday. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 30.91, a price-to-earnings-growth ratio of 1.81 and a beta of 1.73. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.17 and a quick ratio of 1.37. Summit Materials Inc has a 12 month low of $26.25 and a 12 month high of $34.06.

Summit Materials (NYSE:SUM) last released its quarterly earnings data on Tuesday, May 8th. The construction company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.04. The firm had revenue of $289.92 million during the quarter, compared to the consensus estimate of $297.51 million. Summit Materials had a net margin of 6.03% and a return on equity of 10.20%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.49) earnings per share. analysts anticipate that Summit Materials Inc will post 1.52 earnings per share for the current fiscal year.

Summit Materials Profile

Summit Materials, Inc, together with its subsidiaries, produces and sells construction materials and related downstream products. Its products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products. The company also provides paving and related services to private and public infrastructure sectors.

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Institutional Ownership by Quarter for Summit Materials (NYSE:SUM)

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