Sei Investments Co. lifted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1,826.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 254,389 shares of the company’s stock after acquiring an additional 241,187 shares during the period. Sei Investments Co. owned approximately 0.37% of Beacon Roofing Supply worth $10,842,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in BECN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Beacon Roofing Supply during the second quarter worth about $376,000. Virginia Retirement Systems ET AL boosted its stake in shares of Beacon Roofing Supply by 96.0% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 33,900 shares of the company’s stock valued at $1,445,000 after purchasing an additional 16,600 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Beacon Roofing Supply by 8.6% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 3,246,090 shares of the company’s stock valued at $138,348,000 after purchasing an additional 256,784 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Beacon Roofing Supply by 4.9% in the 2nd quarter. Jennison Associates LLC now owns 2,232,522 shares of the company’s stock valued at $95,150,000 after purchasing an additional 104,281 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $469,000.
A number of equities research analysts have recently weighed in on BECN shares. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Stephens upgraded shares of Beacon Roofing Supply from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 20th. Citigroup upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, June 19th. Royal Bank of Canada downgraded 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 restated a “buy” rating and issued a $52.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, August 8th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus price target of $53.80.
In other Beacon Roofing Supply news, Director Philip Knisely acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was acquired at an average price of $37.14 per share, for a total transaction of $222,840.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at $222,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard W. Frost acquired 11,820 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The stock was acquired at an average price of $42.46 per share, with a total value of $501,877.20. Following the acquisition, the director now owns 9,207 shares in the company, valued at $390,929.22. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 332,220 shares of company stock valued at $12,914,005. 0.77% of the stock is owned by company insiders.
Shares of NASDAQ BECN opened at $38.66 on Monday. The company has a market capitalization of $2.52 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 0.39 and a beta of 1.27. Beacon Roofing Supply, Inc. has a 1 year low of $35.04 and a 1 year 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.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Tuesday, August 7th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.14). The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.07 billion. Beacon Roofing Supply had a net margin of 1.65% and a return on equity of 9.94%. During the same quarter last year, the business earned $0.84 EPS. analysts forecast that Beacon Roofing Supply, Inc. will post 3.16 earnings per share for the current fiscal year.
Beacon Roofing Supply Company 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.
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