Russell Investments Group Ltd. increased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 5.5% in the fourth quarter, the company said in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,635 shares of the company after purchasing an additional 2,223 shares during the period. Russell Investments Group Ltd. owned 0.07% of Beacon Roofing Supply, valued at $2,251,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Clayton Dubilier & Rice LLC increased its stake in Beacon Roofing Supply by 0.7% during the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,983,387 shares of the company’s stock valued at $790,973,000 after purchasing an additional 105,320 shares last quarter. Price T Rowe Associates Inc. MD increased its stake in Beacon Roofing Supply by 4.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after purchasing an additional 106,890 shares during the period. Fiduciary Management Inc. WI increased its stake in Beacon Roofing Supply by 4.2% during the third quarter. Fiduciary Management Inc. WI now owns 1,794,826 shares of the Company’s stock valued at $98,213,000 after purchasing an additional 71,900 shares during the period. Frontier Capital Management Co. LLC increased its stake in Beacon Roofing Supply by 4.3% during the third quarter. Frontier Capital Management Co. LLC now owns 1,762,903 shares of the Company’s stock valued at $96,466,000 after purchasing an additional 73,190 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Beacon Roofing Supply by 0.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,311,398 shares of the company’s stock valued at $69,229,000 after purchasing an additional 8,103 shares during the period.
Insider Transactions at Beacon Roofing Supply
In other news from Beacon Roofing Supply, insider Clement Munroe Best III sold 1,500 shares of Beacon Roofing Supply in a transaction Tuesday, May 16. The shares sold at an average price of $61.72 for a total transaction of $92,580.00. Following the transaction, the insider now directly owns 58,183 shares of the company’s stock valued at $3,591,054.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. 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 stock was acquired at an average price of $60.07 per share for a total transaction of $5,999,791.60. Following the closing of the transaction, the insider now directly owns 15,171,964 shares of the company, valued at $911,379,877.48. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, insider Clement Munroe Best III sold 1,500 shares of Beacon Roofing Supply in a transaction Tuesday, May 16. The shares sold at an average price of $61.72 for a total transaction of $92,580.00. Following the sale, the insider now owns 58,183 shares of the company’s stock, valued at $3,591,054.76. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
Wall Street analysts are weighing
BECN has been the subject of numerous research reports. Stephens lowered its price target on Beacon Roofing Supply shares to $68.00 from $70.00 in a research note on Monday, May 8. TheStreet downgraded shares of Beacon Roofing Supply from a “b” rating to a “c” rating in a research report on Friday, May 5. Deutsche Bank Aktiengesellschaft raised its target price on Beacon Roofing Supply shares from $85.00 to $86.00 in a research report on Friday, May 5. StockNews.com began reporting shares of Beacon Roofing Supply in a research report on Thursday. You give the stock a “hold” rating. Finally, in a research report on Monday, February 27, Robert W. Baird raised his target price on shares of Beacon Roofing Supply to $76.00 from $65.00 and gave the company a neutral rating. One research 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, Beacon Roofing Supply currently has a consensus rating of Hold and a consensus price target of $70.00.
Beacon Roofing Supply inventory down 1.3%
NASDAQ BECN shares opened at $64.85 on Friday. The company’s 50-day simple moving average is $59.06 and its 200-day simple moving average is $58.18. The company has a quick ratio of 1.09, a current ratio of 2.07 and a debt to equity ratio of 1.00. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 12.47 and a beta of 1.57. Beacon Roofing Supply, Inc. has a 52-week low of $45.71 and a 52-week high of $68.31.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last released its quarterly results on Thursday, February 23rd. The company reported earnings per share of $1.22 for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. Beacon Roofing Supply had a net margin of 5.01% and a return on equity of 27.52%. Equity analysts expect Beacon Roofing Supply, Inc. to post fiscal year EPS of 6.39.
Company Profile of Beacon Roofing Supply
(get rating)
Beacon Roofing Supply, Inc. is engaged in the distribution of roofing materials for residential and non-residential buildings. In addition, the company sells ancillary building products, including cladding, 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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