Acrisure Capital Management LLC acquired a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) in the fourth quarter, the company said in its most recent 13F filing with the SEC. The company purchased 9,577 shares of the company’s stock for approximately $506,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BECN. Advisor Group Holdings Inc. increased its stake in Beacon Roofing Supply by 37.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company, valued at $65,000, after buying another 300 shares last quarter. Raymond James & Associates increased its stake in Beacon Roofing Supply by 11.6% during the first quarter. Raymond James & Associates now owns 13,449 shares of the company, valued at $797,000, after purchasing an additional 1,397 shares last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Beacon Roofing Supply stock valued at approximately $317,000 during the first quarter. AlphaCrest Capital Management LLC increased its stake in Beacon Roofing Supply by 4.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock valued at $419,000 after purchasing an additional 273 shares last quarter. Finally, Bank of Montreal Can increased its stake in Beacon Roofing Supply by 27.0% during the first quarter. Bank of Montreal Can now owns 10,659 shares of the company, valued at $665,000, after purchasing an additional 2,267 shares last quarter.
Stock performance of Beacon Roofing Supply
Shares of BECN opened at $79.46 on Friday. The company has a debt to equity ratio of 1.00, a short term ratio of 1.09 and a current ratio of 2.07. Beacon Roofing Supply, Inc. has a 12-month low of $45.71 and a 12-month high of $79.70. The company’s 50-day moving average price is $63.67 and its two-hundred-day moving average price is $59.79. The company has a market cap of $5.07 billion, a P/E of 15.28 and a beta of 1.58.
Beacon Roofing Supply (NASDAQ:BECN – get rating) last announced its quarterly results on Thursday, May 4th. The company reported earnings per share of $0.67 for the quarter, beating analyst consensus estimates of $0.61 by $0.06. Beacon Roofing Supply had a net margin of 5.01% and a return on equity of 27.52%. The company had revenue of $1.73 billion in the quarter, compared to analyst estimates of $1.78 billion. On average, analysts are expecting Beacon Roofing Supply, Inc. to post earnings per share of 6.43 for the current fiscal year.
Insider Buying and Selling at Beacon Roofing Supply
In related news, major shareholder Cd&R Investment Associates Ix bought 99,880 shares of the company’s stock in a transaction on Friday, April 28. The shares were purchased at an average price of $60.07 per share for a total value of $5,999,791.60. Upon completion of the purchase, the insider now owns 15,171,964 shares of the company’s stock, valued at approximately $911,379,877.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed at this link. In related news from Beacon Roofing Supply, major shareholder Cd&R Investment Associates Ix acquired 99,880 shares of the stock in a transaction on Friday, April 28. The shares were purchased at an average price of $60.07 per share for a total transaction of $5,999,791.60. Following the closing of the acquisition, the insider now directly owns 15,171,964 shares of the company’s stock valued at $911,379,877.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission available at this link. Also, insider Clement Munroe Best III sold 1,500 shares of Beacon Roofing Supply in a transaction on Friday, May 12. The shares were sold at an average price of $61.00 for a total transaction of $91,500.00. Following the closing of the sale, the insider now owns 58,183 shares of the company’s stock, valued at $3,549,163. The disclosure for this sale can be found here. During the most recent quarter, insiders sold 21,910 shares of the company’s shares for $1,558,209. 0.95% of the shares are currently owned by company insiders.
Analyst upgrades and downgrades
Several brokerage firms have recently published reports on BECN. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Friday, March 10. Stephens lowered its price target on Beacon Roofing Supply to $68.00 from $70.00 in a research note on Monday, May 8. Deutsche Bank Aktiengesellschaft raised its price target on Beacon Roofing Supply shares to $86.00 from $85.00 on Friday, May 5 in a research release. Loop Capital raised its price target on Beacon Roofing Supply shares from $76.00 to $84.00 in a research note on Friday, June 9. Finally, Robert W. Baird raised his price target on Beacon Roofing Supply shares to $76.00 from $65.00 and gave the stock a neutral rating in a research note on Monday, February 27. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $73.78.
About Beacon Roofing Supply
(get rating)
Beacon Roofing Supply, Inc., together with its subsidiaries, is engaged in the distribution of residential and non-residential roofing materials and ancillary building products to contractors, home builders, builders, lumber yards and retailers throughout the United States and Canada. It offers pitched roof and flat roof products; gutters and siding; building materials such as lumber and composites, skylights and windows, plywood and OSB, decking and railings, and HVAC products; and foam board, spray foam, rolls, batts, mineral wool, fiberglass and commercial insulation products, as well as radiant barriers and blown insulation and appliances.
See also
Want to see what other hedge funds are holding BECN? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating).
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