Beacon Roofing Supply, Inc. (NASDAQ:BECN) Major Shareholder Acquires $5,999,936.63 in Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) major shareholder Cd&R Investment Associates Ix, bought 103,931 shares of the stock in a transaction on Friday, July 29th. The shares were bought at an average price of $57.73 per share, for a total transaction of $5,999,936.63. Following the purchase, the insider now directly owns 14,859,579 shares in the company, valued at approximately $857,843,495.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of a company’s stock are required to disclose their sales and purchases with the SEC.

Beacon Roofing Supply Price Performance

BECN stock traded up $0.43 during midday trading on Friday, hitting $60.02. The company’s stock had a trading volume of 24,799 shares, compared to its average volume of 439,708. Beacon Roofing Supply, Inc. has a 12 month low of $45.71 and a 12 month high of $65.30. The company has a quick ratio of 0.92, a current ratio of 1.85 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 17.22 and a beta of 1.78. The company has a 50 day moving average of $56.41 and a two-hundred day moving average of $57.66.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.40. Beacon Roofing Supply had a return on equity of 26.21{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} and a net margin of 4.24{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, analysts expect that Beacon Roofing Supply, Inc. will post 6.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BECN shares. William Blair lowered shares of Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 19th. Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $74.00 to $83.00 in a research report on Friday, May 6th. JPMorgan Chase & Co. reduced their price target on shares of Beacon Roofing Supply from $66.00 to $59.00 in a research report on Friday, July 15th. Wells Fargo & Company reduced their price target on shares of Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 28th. Finally, Royal Bank of Canada lowered shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $70.00 to $58.00 in a research report on Wednesday, June 22nd. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Clayton Dubilier & Rice LLC boosted its position in shares of Beacon Roofing Supply by 0.8{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} during the 1st quarter. Clayton Dubilier & Rice LLC now owns 14,671,917 shares of the company’s stock valued at $869,751,000 after acquiring an additional 112,962 shares during the last quarter. American Century Companies Inc. lifted its position in Beacon Roofing Supply by 8.6{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the first quarter. American Century Companies Inc. now owns 3,622,807 shares of the company’s stock worth $214,760,000 after buying an additional 285,685 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Beacon Roofing Supply by 9.7{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,160,787 shares of the company’s stock worth $123,921,000 after buying an additional 191,517 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Beacon Roofing Supply by 560.5{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the fourth quarter. JPMorgan Chase & Co. now owns 2,085,625 shares of the company’s stock worth $119,611,000 after buying an additional 1,769,848 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in Beacon Roofing Supply by 19.9{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the second quarter. Frontier Capital Management Co. LLC now owns 1,689,713 shares of the company’s stock worth $86,784,000 after buying an additional 280,972 shares during the last quarter.

Beacon Roofing Supply Company Profile

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Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. 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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