Brandywine Global Investment Management LLC bought a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 173,190 shares of the company’s stock, valued at approximately $10,192,000. Brandywine Global Investment Management LLC owned 0.27% of Beacon Roofing Supply as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. UBS Group AG boosted its holdings in shares of Beacon Roofing Supply by 93.5% in the 1st quarter. UBS Group AG now owns 29,489 shares of the company’s stock worth $1,735,000 after purchasing an additional 14,250 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Beacon Roofing Supply during the 1st quarter worth approximately $469,000. Sei Investments Co. lifted its stake in shares of Beacon Roofing Supply by 8.1% during the 1st quarter. Sei Investments Co. now owns 504,013 shares of the company’s stock worth $29,661,000 after acquiring an additional 37,904 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Beacon Roofing Supply during the 1st quarter worth approximately $271,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Beacon Roofing Supply by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 637,074 shares of the company’s stock worth $37,492,000 after acquiring an additional 11,502 shares during the last quarter.
Insider Activity
In other news, Director Stuart A. Randle sold 10,299 shares of Beacon Roofing Supply stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $72.43, for a total value of $745,956.57. Following the transaction, the director now directly owns 31,417 shares in the company, valued at approximately $2,275,533.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Christopher Carl Nelson sold 8,611 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $72.95, for a total transaction of $628,172.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stuart A. Randle sold 10,299 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $72.43, for a total value of $745,956.57. Following the transaction, the director now owns 31,417 shares in the company, valued at $2,275,533.31. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Beacon Roofing Supply Stock Up 1.2 %
Shares of NASDAQ:BECN traded up $0.92 on Monday, reaching $80.77. The company had a trading volume of 438,300 shares, compared to its average volume of 481,721. Beacon Roofing Supply, Inc. has a 52-week low of $50.42 and a 52-week high of $87.46. The firm’s 50 day simple moving average is $82.26 and its 200-day simple moving average is $70.05. The firm has a market capitalization of $5.10 billion, a PE ratio of 15.99, a PEG ratio of 1.78 and a beta of 1.68. The company has a current ratio of 1.69, a quick ratio of 1.00 and a debt-to-equity ratio of 0.86.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.39. Beacon Roofing Supply had a return on equity of 25.15% and a net margin of 4.69%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.50 billion. As a group, analysts expect that Beacon Roofing Supply, Inc. will post 6.91 earnings per share for the current fiscal year.
Analysts Set New Price Targets
BECN has been the subject of a number of research analyst reports. Loop Capital raised their price target on Beacon Roofing Supply from $76.00 to $84.00 in a research note on Friday, June 9th. BMO Capital Markets raised their price target on Beacon Roofing Supply from $75.00 to $90.00 in a research note on Friday, June 16th. Raymond James raised their price target on Beacon Roofing Supply from $75.00 to $95.00 and gave the stock an “outperform” rating in a research note 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Beacon Roofing Supply from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus target price of $86.80.
Get Our Latest Report on BECN
About Beacon Roofing Supply
(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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