WCM Investment Management LLC decreased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 8.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 440,165 shares of the company’s stock after selling 42,986 shares during the quarter. WCM Investment Management LLC owned 0.69% of Beacon Roofing Supply worth $36,833,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Xponance Inc. bought a new stake in shares of Beacon Roofing Supply during the second quarter valued at approximately $249,000. Counterpoint Mutual Funds LLC acquired a new position in Beacon Roofing Supply during the 2nd quarter valued at about $99,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Beacon Roofing Supply by 8.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,009 shares of the company’s stock worth $333,000 after buying an additional 309 shares during the period. Sciencast Management LP acquired a new position in Beacon Roofing Supply in the second quarter valued at approximately $560,000. Finally, Nordea Investment Management AB grew its holdings in Beacon Roofing Supply by 1.2% during the 2nd quarter. Nordea Investment Management AB now owns 195,833 shares of the company’s stock worth $16,358,000 after acquiring an additional 2,279 shares during the period.
Beacon Roofing Supply Trading Up 0.8 %
Shares of Beacon Roofing Supply stock traded up $0.62 during trading on Friday, hitting $75.95. The company’s stock had a trading volume of 22,192 shares, compared to its average volume of 474,983. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.73 and a beta of 1.68. Beacon Roofing Supply, Inc. has a 52 week low of $50.42 and a 52 week high of $87.46. The stock has a 50-day moving average price of $80.82 and a two-hundred day moving average price of $71.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.69 and a quick ratio of 1.00.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.39. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.50 billion. Beacon Roofing Supply had a return on equity of 25.15% and a net margin of 4.69%. Equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 6.74 EPS for the current fiscal year.
Insider Activity at Beacon Roofing Supply
In other news, major shareholder Cd&R Investment Associates Ix, purchased 46,170 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were purchased at an average price of $63.59 per share, for a total transaction of $2,935,950.30. Following the transaction, the insider now owns 10,218,134 shares of the company’s stock, valued at $649,771,141.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Cd&R Investment Associates Ix, bought 46,170 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average cost of $63.59 per share, with a total value of $2,935,950.30. Following the completion of the purchase, the insider now directly owns 10,218,134 shares in the company, valued at $649,771,141.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christine Stroh Reddy sold 500 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $78.12, for a total transaction of $39,060.00. Following the completion of the sale, the executive vice president now owns 314 shares of the company’s stock, valued at $24,529.68. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on BECN shares. Loop Capital boosted their price objective on shares of Beacon Roofing Supply from $76.00 to $84.00 in a report on Friday, June 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Beacon Roofing Supply from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. 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, Truist Financial increased their price target on Beacon Roofing Supply from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Hold” and an average price target of $86.80.
Read Our Latest Stock 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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