Bank of Montreal Can Has $879,000 Stake in Beacon Roofing Supply, Inc. (BECN)

Share on StockTwits

Bank of Montreal Can lifted its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 18.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,667 shares of the company’s stock after purchasing an additional 3,179 shares during the period. Bank of Montreal Can’s holdings in Beacon Roofing Supply were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in BECN. BlackRock Inc. grew its stake in Beacon Roofing Supply by 4.6% during the first quarter. BlackRock Inc. now owns 4,958,783 shares of the company’s stock valued at $263,164,000 after acquiring an additional 218,623 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in Beacon Roofing Supply by 1.2% during the first quarter. Frontier Capital Management Co. LLC now owns 2,989,306 shares of the company’s stock valued at $158,642,000 after acquiring an additional 34,886 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Beacon Roofing Supply by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,536,918 shares of the company’s stock valued at $134,634,000 after acquiring an additional 9,386 shares in the last quarter. Fisher Asset Management LLC grew its stake in Beacon Roofing Supply by 3.6% during the second quarter. Fisher Asset Management LLC now owns 1,847,197 shares of the company’s stock valued at $78,728,000 after acquiring an additional 64,900 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Beacon Roofing Supply by 4.6% during the first quarter. Royal Bank of Canada now owns 954,982 shares of the company’s stock valued at $50,681,000 after acquiring an additional 42,127 shares in the last quarter.

BECN has been the subject of several research analyst reports. Zacks Investment Research cut shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Stephens raised shares of Beacon Roofing Supply from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 20th. Citigroup raised shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, June 19th. Royal Bank of Canada cut shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, June 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $52.00 target price on shares of Beacon Roofing Supply in a research note on Wednesday, August 8th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.80.

BECN stock opened at $38.66 on Monday. Beacon Roofing Supply, Inc. has a 52 week low of $35.04 and a 52 week high of $66.47. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.07 and a quick ratio of 1.14. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 0.39 and a beta of 1.27.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Tuesday, August 7th. The company reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.14). Beacon Roofing Supply had a net margin of 1.65% and a return on equity of 9.94%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the business earned $0.84 EPS. research analysts anticipate that Beacon Roofing Supply, Inc. will post 3.16 EPS for the current fiscal year.

In other news, Director Philip Knisely bought 6,000 shares of the stock in a transaction dated Thursday, August 16th. The stock was purchased at an average price of $37.14 per share, for a total transaction of $222,840.00. Following the acquisition, the director now owns 6,000 shares of the company’s stock, valued at $222,840. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cd&R Investment Associates Ix, bought 314,400 shares of the stock in a transaction dated Thursday, August 9th. The stock was purchased at an average price of $38.77 per share, with a total value of $12,189,288.00. The disclosure for this purchase can be found here. Insiders have acquired 332,220 shares of company stock valued at $12,914,005 in the last quarter. 0.77% of the stock is owned by company insiders.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.

Further Reading: Analyst Ratings

Want to see what other hedge funds are holding BECN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beacon Roofing Supply, Inc. (NASDAQ:BECN).

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply