Baring Asset Management LTD Lowered By $5.53 Million Its Ambev Sa (ABEV) Position; Summit Materials Class A (SUM) Shorts Raised By 0.48%

September 9, 2017 - By Kurt Siggers

Baring Asset Management Ltd decreased Ambev Sa (ABEV) stake by 48.37% reported in 2016Q4 SEC filing. Baring Asset Management Ltd sold 1.38 million shares as Ambev Sa (ABEV)’s stock declined 1.05%. The Baring Asset Management Ltd holds 1.47M shares with $7.24 million value, down from 2.86 million last quarter. Ambev Sa now has $101.54 billion valuation. The stock decreased 0.54% or $0.04 on September 8, reaching $6.43. About 16.15M shares traded or 11.30% up from the average. Ambev SA (ADR) (NYSE:ABEV) has risen 10.52% since September 9, 2016 and is uptrending. It has underperformed by 6.18% the S&P500.

Summit Materials Class A (NYSE:SUM) had an increase of 0.48% in short interest. SUM’s SI was 10.33 million shares in September as released by FINRA. Its up 0.48% from 10.28M shares previously. With 1.03M avg volume, 10 days are for Summit Materials Class A (NYSE:SUM)’s short sellers to cover SUM’s short positions. The SI to Summit Materials Class A’s float is 9.75%. The stock increased 1.09% or $0.33 on September 8, reaching $30.62. About 1.07 million shares traded. Summit Materials Inc (NYSE:SUM) has risen 29.53% since September 9, 2016 and is uptrending. It has outperformed by 12.83% the S&P500.

Summit Materials, Inc. is a construction materials company. The company has market cap of $3.43 billion. The Firm operates through three divisions: West, East and Cement. It has a 54.25 P/E ratio. As of December 31, 2016, the Company had activities in 21 states in the United States and in British Columbia, Canada.

Among 12 analysts covering Summit Materials (NYSE:SUM), 9 have Buy rating, 0 Sell and 3 Hold. Therefore 75% are positive. Summit Materials had 25 analyst reports since August 17, 2015 according to SRatingsIntel. The firm has “Outperform” rating given on Wednesday, November 4 by RBC Capital Markets. RBC Capital Markets maintained Summit Materials Inc (NYSE:SUM) on Thursday, November 3 with “Outperform” rating. Goldman Sachs upgraded the stock to “Buy” rating in Friday, October 2 report. Citigroup maintained it with “Buy” rating and $26 target in Thursday, August 4 report. The firm has “Buy” rating by Bank of America given on Thursday, October 8. The stock has “Buy” rating by Suntrust Robinson on Friday, January 20. The rating was upgraded by DA Davidson on Monday, August 17 to “Buy”. The rating was maintained by RBC Capital Markets with “Buy” on Monday, July 24. Bank of America downgraded the shares of SUM in report on Wednesday, November 16 to “Neutral” rating. The firm has “Buy” rating by Citigroup given on Monday, April 18.