Vaughan Nelson Investment Management L.P. reduced its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 594,645 shares of the company’s stock after selling 12,175 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.92% of Beacon Roofing Supply worth $34,995,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in BECN. Clayton Dubilier & Rice LLC grew its position in shares of Beacon Roofing Supply by 0.7% in the 1st quarter. Clayton Dubilier & Rice LLC now owns 15,094,980 shares of the company’s stock worth $888,340,000 after buying an additional 111,593 shares during the period. American Century Companies Inc. grew its position in Beacon Roofing Supply by 53.5% during the 4th 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. Price T Rowe Associates Inc. MD grew its position in Beacon Roofing Supply by 4.0% during the 2nd 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 last quarter. Fuller & Thaler Asset Management Inc. grew its position in Beacon Roofing Supply by 7.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,704,390 shares of the company’s stock valued at $89,975,000 after purchasing an additional 123,383 shares during the last quarter. Finally, Morgan Stanley grew its position in Beacon Roofing Supply by 467.9% during the 4th quarter. Morgan Stanley now owns 1,313,406 shares of the company’s stock valued at $69,335,000 after purchasing an additional 1,082,141 shares during the last quarter.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on BECN shares. Loop Capital upped their target price on shares of Beacon Roofing Supply from $76.00 to $84.00 in a research note on Friday, June 9th. Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $76.00 to $95.00 in a research note on Monday, July 10th. Jefferies Financial Group increased their price objective on shares of Beacon Roofing Supply from $75.00 to $88.00 and gave the stock a “hold” rating in a research note on Thursday, July 13th. BMO Capital Markets increased their price objective on shares of Beacon Roofing Supply from $75.00 to $90.00 in a research note on Friday, June 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Beacon Roofing Supply from $85.00 to $86.00 in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Hold” and an average target price of $83.44.
Beacon Roofing Supply Price Performance
BECN traded down $1.60 during trading on Friday, reaching $83.30. 1,013,592 shares of the company traded hands, compared to its average volume of 436,584. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 2.07. Beacon Roofing Supply, Inc. has a 12-month low of $50.42 and a 12-month high of $87.46. The firm has a fifty day simple moving average of $78.94 and a 200 day simple moving average of $66.41. The company has a market cap of $5.31 billion, a P/E ratio of 16.32 and a beta of 1.65.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Beacon Roofing Supply had a net margin of 5.01% and a return on equity of 27.52%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. On average, equities analysts forecast that Beacon Roofing Supply, Inc. will post 6.61 EPS for the current year.
Insider Buying and Selling at Beacon Roofing Supply
In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 1,500 shares of Beacon Roofing Supply stock in a transaction on Friday, May 12th. The shares were sold at an average price of $61.00, for a total value of $91,500.00. Following the completion of the transaction, the insider now directly owns 58,183 shares of the company’s stock, valued at approximately $3,549,163. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 1,500 shares of Beacon Roofing Supply stock in a transaction on Friday, May 12th. The shares were sold at an average price of $61.00, for a total value of $91,500.00. Following the completion of the transaction, the insider now directly owns 58,183 shares of the company’s stock, valued at approximately $3,549,163. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher Carl Nelson sold 8,611 shares of Beacon Roofing Supply 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 disclosure for this sale can be found here. Insiders sold a total of 21,910 shares of company stock valued at $1,558,209 in the last three months. 0.95% of the stock is currently owned by corporate insiders.
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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