Clayton Dubilier & Rice LLC Has $814.13 Million Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)
Clayton Dubilier & Rice LLC boosted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 0.7{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,878,067 shares of the company’s stock after purchasing an additional 103,931 shares during the quarter. Beacon Roofing Supply comprises 8.4{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of Clayton Dubilier & Rice LLC’s portfolio, making the stock its 3rd largest holding. Clayton Dubilier & Rice LLC owned approximately 22.87{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of Beacon Roofing Supply worth $814,128,000 as of its most recent filing with the Securities & Exchange Commission.
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Other large investors have also recently added to or reduced their stakes in the company. Retirement Group LLC boosted its position in shares of Beacon Roofing Supply by 100.0{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the second quarter. Retirement Group LLC now owns 548 shares of the company’s stock valued at $28,000 after acquiring an additional 274 shares during the period. Advisor Group Holdings Inc. boosted its position in shares of Beacon Roofing Supply by 37.5{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after acquiring an additional 300 shares during the period. Bessemer Group Inc. boosted its position in shares of Beacon Roofing Supply by 298.6{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the third quarter. Bessemer Group Inc. now owns 1,120 shares of the company’s stock valued at $62,000 after acquiring an additional 839 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Beacon Roofing Supply in the second quarter valued at approximately $67,000. Finally, Baird Financial Group Inc. bought a new stake in shares of Beacon Roofing Supply in the first quarter valued at approximately $209,000.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on BECN shares. Stifel Nicolaus increased their price objective on Beacon Roofing Supply from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 19th. Zelman & Associates initiated coverage on Beacon Roofing Supply in a research report on Tuesday. They issued a “hold” rating for the company. Robert W. Baird reduced their target price on Beacon Roofing Supply from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, January 24th. Deutsche Bank Aktiengesellschaft raised their target price on Beacon Roofing Supply from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 10th. Finally, Royal Bank of Canada reduced their target price on Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating for the company in a research report on Monday, November 7th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Hold” and an average target price of $67.14.
Insider Activity
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 107,185 shares of the stock in a transaction dated Monday, January 30th. The stock was bought at an average cost of $55.98 per share, for a total transaction of $6,000,216.30. Following the completion of the purchase, the insider now owns 15,072,084 shares in the company, valued at approximately $843,735,262.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.95{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of the stock is currently owned by corporate insiders.
Beacon Roofing Supply Stock Performance
Beacon Roofing Supply stock opened at $59.17 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.10. The stock has a fifty day moving average price of $55.57 and a two-hundred day moving average price of $56.47. Beacon Roofing Supply, Inc. has a 52-week low of $45.71 and a 52-week high of $65.30. The firm has a market capitalization of $3.85 billion, a P/E ratio of 10.88 and a beta of 1.64.
Beacon Roofing Supply Profile
Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
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