Glenmede Trust Co. NA lessened its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 313,021 shares of the company’s stock after selling 37,455 shares during the quarter. Glenmede Trust Co. NA owned 0.48% of Beacon Roofing Supply worth $17,127,000 as of its most recent SEC filing.
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Several other hedge funds have also added to or reduced their stakes in BECN. Advisor Group Holdings Inc. raised its stake in Beacon Roofing Supply by 37.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after buying an additional 300 shares during the period. Raymond James & Associates raised its stake in Beacon Roofing Supply by 11.6% during the 1st quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock worth $797,000 after buying an additional 1,397 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Beacon Roofing Supply during the 1st quarter worth $317,000. AlphaCrest Capital Management LLC raised its stake in Beacon Roofing Supply by 4.0% during the 1st quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock worth $419,000 after buying an additional 273 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Beacon Roofing Supply by 27.0% in the 1st quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock valued at $665,000 after purchasing an additional 2,267 shares during the period.
Insider Buying and Selling
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 105,320 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, October 28th. The stock was acquired at an average price of $56.97 per share, for a total transaction of $6,000,080.40. Following the completion of the acquisition, the insider now owns 14,964,899 shares of the company’s stock, valued at approximately $852,550,296.03. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.95% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
BECN has been the topic of several recent research reports. Robert W. Baird dropped their price target on Beacon Roofing Supply from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Beacon Roofing Supply from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, January 10th. StockNews.com initiated coverage on Beacon Roofing Supply in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Royal Bank of Canada dropped their price target on Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Monday, November 7th. Finally, Stifel Nicolaus lifted their price target on Beacon Roofing Supply from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, December 19th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply has a consensus rating of “Hold” and a consensus target price of $65.63.
Beacon Roofing Supply Stock Down 1.5 %
Shares of NASDAQ BECN traded down $0.82 during mid-day trading on Wednesday, hitting $54.44. The company had a trading volume of 36,551 shares, compared to its average volume of 447,934. The company has a market capitalization of $3.54 billion, a PE ratio of 10.16 and a beta of 1.60. The firm has a 50-day simple moving average of $55.68 and a two-hundred day simple moving average of $56.30. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply, Inc. has a one year low of $45.71 and a one year high of $65.30.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.15. Beacon Roofing Supply had a return on equity of 31.40% and a net margin of 5.52%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.35 billion. On average, equities analysts expect that Beacon Roofing Supply, Inc. will post 7.05 EPS for the current year.
About Beacon Roofing Supply
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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