Posted by admin on Jun 24th, 2022
Nordea Investment Management AB grew its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 207,643 shares of the company’s stock after buying an additional 9,237 shares during the quarter. Nordea Investment Management AB’s holdings in Beacon Roofing Supply were worth $12,654,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Segall Bryant & Hamill LLC grew its holdings in shares of Beacon Roofing Supply by 22.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 541,091 shares of the company’s stock worth $25,840,000 after purchasing an additional 97,685 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Beacon Roofing Supply in the 4th quarter worth about $1,394,000. Citigroup Inc. grew its holdings in shares of Beacon Roofing Supply by 18.3% in the 4th quarter. Citigroup Inc. now owns 35,158 shares of the company’s stock worth $2,016,000 after purchasing an additional 5,447 shares during the last quarter. Kendall Capital Management bought a new stake in shares of Beacon Roofing Supply in the 4th quarter worth about $258,000. Finally, Barclays PLC grew its holdings in shares of Beacon Roofing Supply by 110.2% in the 4th quarter. Barclays PLC now owns 91,584 shares of the company’s stock worth $5,253,000 after purchasing an additional 48,008 shares during the last quarter.
Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $70.00 to $58.00 in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Wednesday, April 20th. StockNews.com started coverage on shares of Beacon Roofing Supply in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company increased their price objective on shares of Beacon Roofing Supply from $59.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, April 21st. Finally, Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $74.00 to $83.00 in a report on Friday, May 6th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Hold” and an average price target of $63.63.
Beacon Roofing Supply stock opened at $49.50 on Friday. The company has a current ratio of 1.85, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply, Inc. has a 1 year low of $45.71 and a 1 year high of $65.30. The company has a market cap of $3.40 billion, a PE ratio of 14.31 and a beta of 1.77. The company’s 50-day moving average is $59.58 and its two-hundred day moving average is $57.77.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last released its earnings results on Thursday, May 5th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.40. Beacon Roofing Supply had a net margin of 4.24% and a return on equity of 26.21%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.43 billion. Research analysts forecast that Beacon Roofing Supply, Inc. will post 6.58 EPS for the current year.
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 102,219 shares of the business’s stock in a transaction on Friday, April 29th. The shares were bought at an average cost of $58.70 per share, for a total transaction of $6,000,255.30. Following the transaction, the insider now owns 14,755,648 shares in the company, valued at approximately $866,156,537.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.95% of the company’s stock.
About Beacon Roofing Supply (Get Rating)
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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