Clayton Dubilier & Rice LLC cut its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 32.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,241,030 shares of the company’s stock after selling 4,953,830 shares during the period. Beacon Roofing Supply makes up 14.6% of Clayton Dubilier & Rice LLC’s portfolio, making the stock its 3rd largest holding. Clayton Dubilier & Rice LLC owned about 16.23% of Beacon Roofing Supply worth $790,300,000 at the end of the most recent quarter.
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Several other hedge funds also recently added to or reduced their stakes in BECN. Cambridge Investment Research Advisors Inc. increased its stake in Beacon Roofing Supply by 8.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,009 shares of the company’s stock worth $333,000 after purchasing an additional 309 shares during the period. Diversified Trust Co purchased a new position in Beacon Roofing Supply in the 2nd quarter worth about $243,000. Duality Advisers LP bought a new stake in Beacon Roofing Supply during the 2nd quarter valued at about $722,000. Vanguard Personalized Indexing Management LLC boosted its position in Beacon Roofing Supply by 5.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,441 shares of the company’s stock valued at $369,000 after buying an additional 239 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in shares of Beacon Roofing Supply by 71.1% during the second quarter. Great West Life Assurance Co. Can now owns 23,684 shares of the company’s stock worth $1,978,000 after acquiring an additional 9,839 shares during the period.
Beacon Roofing Supply Stock Performance
Shares of NASDAQ BECN traded up $1.32 during midday trading on Monday, reaching $86.43. The company had a trading volume of 409,940 shares, compared to its average volume of 903,995. The stock has a market cap of $5.48 billion, a P/E ratio of -81.53, a P/E/G ratio of 1.48 and a beta of 1.63. The company has a current ratio of 1.73, a quick ratio of 1.05 and a debt-to-equity ratio of 1.43. Beacon Roofing Supply, Inc. has a 1 year low of $53.46 and a 1 year high of $89.39. The business’s 50-day simple moving average is $83.76 and its 200 day simple moving average is $80.23.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.31. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Beacon Roofing Supply had a return on equity of 25.71% and a net margin of 4.67%. On average, analysts forecast that Beacon Roofing Supply, Inc. will post 7.52 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts recently issued reports on BECN shares. Truist Financial dropped their price objective on Beacon Roofing Supply from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, October 17th. Jefferies Financial Group dropped their price objective on shares of Beacon Roofing Supply from $92.00 to $89.00 in a research note on Thursday, October 12th. Royal Bank of Canada upgraded Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $91.00 to $94.00 in a report on Thursday, October 5th. JPMorgan Chase & Co. dropped their price objective on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. Finally, StockNews.com raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Saturday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and a consensus target price of $92.64.
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Insiders Place Their Bets
In other news, insider Jason L. Taylor sold 1,806 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $88.75, for a total transaction of $160,282.50. Following the sale, the insider now directly owns 11,178 shares of the company’s stock, valued at approximately $992,047.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.
Beacon Roofing Supply Company Profile
(Free Report)
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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