Posted by admin on Aug 18th, 2022
Boston Partners decreased its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 47.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,596 shares of the company’s stock after selling 4,127 shares during the quarter. Boston Partners’ holdings in Beacon Roofing Supply were worth $272,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Ellevest Inc. lifted its holdings in shares of Beacon Roofing Supply by 1,193.9% in the 1st quarter. Ellevest Inc. now owns 427 shares of the company’s stock worth $25,000 after buying an additional 394 shares during the period. Advisor Group Holdings Inc. grew its holdings 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 acquiring an additional 300 shares in the last quarter. Gladius Capital Management LP purchased a new position in Beacon Roofing Supply during the 4th quarter valued at about $92,000. Nisa Investment Advisors LLC purchased a new position in Beacon Roofing Supply during the 1st quarter valued at about $136,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Beacon Roofing Supply by 43.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,411 shares of the company’s stock valued at $138,000 after purchasing an additional 733 shares in the last quarter.
BECN stock opened at $60.43 on Thursday. The firm’s fifty day moving average is $56.06 and its 200 day moving average is $58.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.02 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a one year low of $45.71 and a one year high of $65.30. The firm has a market cap of $3.93 billion, a PE ratio of 12.83 and a beta of 1.79.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.44. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Beacon Roofing Supply had a return on equity of 29.19% and a net margin of 5.25%. Beacon Roofing Supply’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 EPS. On average, research analysts forecast that Beacon Roofing Supply, Inc. will post 6.78 EPS for the current year.
In related news, major shareholder Cd&R Investment Associates Ix, purchased 103,931 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average price of $57.73 per share, for a total transaction of $5,999,936.63. Following the transaction, the insider now directly owns 14,859,579 shares in the company, valued at $857,843,495.67. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.95% of the company’s stock.
Several equities analysts recently issued reports on the stock. Stephens cut their price objective on shares of Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, August 8th. Robert W. Baird boosted their target price on Beacon Roofing Supply from $74.00 to $83.00 in a research note on Friday, May 6th. William Blair cut Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 19th. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $70.00 to $58.00 in a research note on Wednesday, June 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 28th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.43.
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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