WCM Investment Management LLC increased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 1.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The company owned 486,447 shares of the company’s shares after purchasing an additional 5,621 shares during the period. WCM Investment Management LLC owned approximately 0.75% of Beacon Roofing Supply valued at $25,680,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently changed their holdings in BECN. Fox Run Management LLC purchased a new position in Beacon Roofing Supply stock valued at $283,000 during the third quarter. Hsbc Holdings PLC increased its stake in Beacon Roofing Supply by 41.0% in the third quarter. Hsbc Holdings PLC now owns 16,553 shares of the company’s stock valued at $918,000 after purchasing an additional 4,810 shares last quarter. Clayton Dubilier & Rice LLC increased its stake in Beacon Roofing Supply stock by 0.7% during the third quarter. Clayton Dubilier & Rice LLC now owns 14,878,067 shares of the company’s stock valued at $814,128,000 after purchasing an additional 103,931 shares last quarter. Natixis Advisors LP increased its stake in Beacon Roofing Supply by 124.5% during the fourth quarter. Natixis Advisors LP now owns 98,786 shares of the company’s stock valued at $5,215,000 after purchasing an additional 54,774 shares last quarter. Finally, Contravisory Investment Management Inc. increased its stake in Beacon Roofing Supply stock by 13.0% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,384 shares of the company’s stock valued at $231,000 after purchasing an additional 506 shares last quarter.
Changes in analyst ratings
A number of research analysts recently rated the company. 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 report Monday, February 27. Stephens increased its target price on Beacon Roofing Supply to $73.00 from $65.00 and gave the company a break even rating in a research note on Monday, February 27. Deutsche Bank Aktiengesellschaft raised its price target on Beacon Roofing Supply to $85.00 from $81.00 and issued a research note on Monday, February 27th with a “buy” rating of the company. Zelman & Associates downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Friday, March 10. Finally, on Thursday, March 16th, StockNews.com began reporting on Beacon Roofing Supply in a research note. You give the company a “hold” rating. One investment analyst has assigned a sell rating to the stock, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $70.57.
Insider Buying and Selling at Beacon Roofing Supply
In related news, major shareholder Cd&R Investment Associates Ix acquired 107,185 shares of the company in a transaction Monday, January 30. The shares were purchased at an average price of $55.98 per share for a total value of $6,000,216.30. Following the purchase, the insider now directly owns 15,072,084 shares of the company’s stock valued at approximately $843,735,262.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, available at this link. Company insiders own 0.95% of the company’s shares.
Beacon Roofing Supply price performance
Shares of BECN rose $1.39 midday Friday to hit $60.25. The company had a trading volume of 129,936 shares compared to its average volume of 401,417. Beacon Roofing Supply, Inc. has a 12-month low of $45.71 and a 12-month high of $68.31. The company has a gearing ratio of 1.01, a current ratio of 2.03 and a quick ratio of 1.08. The company’s 50-day moving average is $59.80 and its 200-day moving average is $57.53. The company has a market cap of $3.88 billion, a P/E of 10.59 and a beta of 1.57.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last issued its earnings results on Thursday, February 23rd. The company reported earnings per share (EPS) of $1.22 for the quarter, beating analyst consensus estimates of $1.16 by $0.06. The company made $1.97 billion in revenue for the quarter, compared to analysts’ expectations of $1.98 billion. Beacon Roofing Supply had a return on equity of 30.06% and a net margin of 5.44%. On average, stock analysts expect Beacon Roofing Supply, Inc. to report 6.2 EPS for the year to date.
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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