BlackRock Advisors LLC boosted its stake in shares of Beacon Roofing Supply Inc. (NASDAQ:BECN) by 295.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,496 shares of the company’s stock after buying an additional 69,824 shares during the period. BlackRock Advisors LLC owned about 0.16% of Beacon Roofing Supply worth $4,251,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of BECN. RS Investment Management Co. LLC purchased a new stake in shares of Beacon Roofing Supply during the second quarter valued at approximately $23,097,000. Eagle Asset Management Inc. increased its stake in shares of Beacon Roofing Supply by 12.6% in the second quarter. Eagle Asset Management Inc. now owns 71,009 shares of the company’s stock valued at $3,228,000 after buying an additional 7,959 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Beacon Roofing Supply during the second quarter valued at approximately $424,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Beacon Roofing Supply during the first quarter valued at approximately $299,000. Finally, Blair William & Co. IL increased its stake in shares of Beacon Roofing Supply by 2.4% in the second quarter. Blair William & Co. IL now owns 8,257 shares of the company’s stock valued at $375,000 after buying an additional 190 shares in the last quarter.
Shares of Beacon Roofing Supply Inc. (NASDAQ:BECN) opened at 42.48 on Wednesday. The company has a market capitalization of $2.54 billion, a PE ratio of 33.42 and a beta of 1.35. The firm’s 50-day moving average price is $42.81 and its 200 day moving average price is $44.13. Beacon Roofing Supply Inc. has a one year low of $32.24 and a one year high of $48.96.
Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Tuesday, August 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. Beacon Roofing Supply had a return on equity of 9.66% and a net margin of 1.96%. Beacon Roofing Supply’s quarterly revenue was up 60.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. Analysts anticipate that Beacon Roofing Supply Inc. will post $2.13 earnings per share for the current year.
Several equities research analysts have recently commented 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, October 4th. Robert W. Baird reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a report on Wednesday, July 6th. Jefferies Group initiated coverage on Beacon Roofing Supply in a report on Wednesday, July 6th. They issued a “hold” rating and a $46.00 price target for the company. Finally, Wedbush reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Beacon Roofing Supply currently has an average rating of “Buy” and an average target price of $48.44.
In other news, CEO Paul Isabella sold 45,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $46.31, for a total transaction of $2,083,950.00. Following the sale, the chief executive officer now directly owns 155,414 shares of the company’s stock, valued at approximately $7,197,222.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carl T. Berquist bought 5,000 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, September 7th. The shares were bought at an average cost of $44.81 per share, for a total transaction of $224,050.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $224,050. The disclosure for this purchase can be found here. Insiders own 1.15% of the company’s stock.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.
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