Nordea Investment Management AB lifted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 195,833 shares of the company’s stock after acquiring an additional 2,279 shares during the quarter. Nordea Investment Management AB owned about 0.31% of Beacon Roofing Supply worth $16,358,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in BECN. American Century Companies Inc. grew its position in shares of Beacon Roofing Supply by 53.5% in the fourth quarter. American Century Companies Inc. now owns 3,645,264 shares of the company’s stock valued at $192,433,000 after purchasing an additional 1,270,771 shares during the last quarter. Morgan Stanley grew its holdings in Beacon Roofing Supply by 467.9% in the 4th quarter. Morgan Stanley now owns 1,313,406 shares of the company’s stock valued at $69,335,000 after buying an additional 1,082,141 shares during the last quarter. JPMorgan Chase & Co. increased its position in Beacon Roofing Supply by 301.1% in the 1st quarter. JPMorgan Chase & Co. now owns 849,092 shares of the company’s stock worth $49,969,000 after buying an additional 637,420 shares during the period. Norges Bank bought a new position in Beacon Roofing Supply in the 4th quarter worth approximately $23,585,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Beacon Roofing Supply by 2,604.0% during the first quarter. Envestnet Asset Management Inc. now owns 388,859 shares of the company’s stock worth $951,000 after buying an additional 374,478 shares during the last quarter.
Insider Transactions at Beacon Roofing Supply
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 46,170 shares of Beacon Roofing Supply stock in a transaction dated Monday, September 11th. The shares were acquired at an average cost of $63.59 per share, with a total value of $2,935,950.30. Following the acquisition, the insider now directly owns 10,218,134 shares of the company’s stock, valued at $649,771,141.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Cd&R Investment Associates Ix, purchased 46,170 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average price of $63.59 per share, for a total transaction of $2,935,950.30. Following the transaction, the insider now directly owns 10,218,134 shares in the company, valued at $649,771,141.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christine Stroh Reddy sold 500 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $78.12, for a total transaction of $39,060.00. Following the sale, the executive vice president now directly owns 314 shares in the company, valued at approximately $24,529.68. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Stock Performance
Shares of NASDAQ:BECN opened at $76.80 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.69 and a quick ratio of 1.00. The business’s fifty day moving average price is $81.30 and its two-hundred day moving average price is $71.25. Beacon Roofing Supply, Inc. has a fifty-two week low of $50.42 and a fifty-two week high of $87.46. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.73 and a beta of 1.68.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.39. Beacon Roofing Supply had a net margin of 4.69% and a return on equity of 25.15%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.50 billion. As a group, analysts predict that Beacon Roofing Supply, Inc. will post 6.91 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently issued reports on BECN shares. StockNews.com lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Raymond James upped their price objective on shares of Beacon Roofing Supply from $75.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Robert W. Baird lifted their target price on Beacon Roofing Supply from $76.00 to $95.00 in a research report on Monday, July 10th. Deutsche Bank Aktiengesellschaft upped their price target on Beacon Roofing Supply from $102.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, BMO Capital Markets lifted their price objective on Beacon Roofing Supply from $75.00 to $90.00 in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.80.
Read Our Latest Analysis on Beacon Roofing Supply
Beacon Roofing Supply Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.
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