Private Management Group Inc. trimmed its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 46.8% in the fourth quarter, the company said in its most recent filing with the Securities & Exchange Commission. The fund owned 34,508 shares of the company after selling 30,403 shares during the period. Private Management Group Inc. owned approximately 0.05% of Beacon Roofing Supply valued at $1,822,000 as of the most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Gladius Capital Management LP acquired a new stake in Beacon Roofing Supply stock valued at $55,000 during the fourth quarter. Bessemer Group Inc. increased its stake in Beacon Roofing Supply by 298.6% in the third quarter. Bessemer Group Inc. now owns 1,120 shares of the company’s stock valued at $62,000 after purchasing an additional 839 shares last quarter. Advisor Group Holdings Inc. increased its stake in Beacon Roofing Supply stock by 37.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Beacon Roofing Supply by 23.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,633 shares of the company, valued at $87,000, after buying another 309 shares last quarter. Finally, in the third quarter, Pictet Asset Management SA acquired a new stake in Beacon Roofing Supply valued at approximately $200,000.
Insider Transactions at Beacon Roofing Supply
In other news from Beacon Roofing Supply, major shareholder Cd&R Investment Associates Ix acquired 107,185 shares of the company’s shares in a transaction on Monday, Jan. 30. The stock was purchased at an average price of $55.98 per share for a total transaction of $6,000,216.30. Following the acquisition, the insider now owns 15,072,084 shares of the company’s stock valued at $843,735,262.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.95% of the company’s stock.
Beacon Roofing Supply price performance
NASDAQ:BECN opened at $60.62 on Friday. The stock has a 50-day moving average of $60.03 and a two-hundred-day moving average of $57.51. Beacon Roofing Supply, Inc. has a 12-month low of $45.71 and a 12-month high of $68.31. The company has a market cap of $3.90 billion, a P/E of 10.90 and a beta of 1.57. The company has a current ratio of 2.03, a quick ratio of 1.08 and a debt-to-equity ratio of 1.01.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported $1.22 per share for the quarter, beating the consensus estimate of $1.16 by $0.06. Beacon Roofing Supply had a return on equity of 30.06% and a net margin of 5.44%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. On average, analysts expect Beacon Roofing Supply, Inc. to post earnings per share of 6.2 for the current fiscal year.
Wall Street analysts forecast growth
BECN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft has raised its price target on Beacon Roofing Supply to $85.00 from $81.00 while giving the company a buy rating in a report dated Monday, February 27. StockNews.com began covering shares of Beacon Roofing Supply in a report on Thursday, March 16th. You give the stock a “hold” rating. Stephens raised his target price on Beacon Roofing Supply shares to $73.00 from $65.00 and rated the company at “break even weight” in a report Monday, February 27. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Friday, March 10. Finally, Robert W. Baird raised his price target on Beacon Roofing Supply to $76.00 from $65.00 and gave the company a neutral rating in a research report on Monday, February 27. One analyst has rated the stock with a sell rating, six with a hold rating and two with a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $70.57.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc is engaged in the distribution of roofing materials for residential and non-residential buildings. It also sells ancillary building products, including siding, windows, specialty exterior building products, insulation and waterproofing systems for the exterior of buildings. The company was incorporated on August 22, 1997 and is headquartered in Herndon, VA.
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