Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 100.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,213 shares of the company’s stock after acquiring an additional 15,654 shares during the period. Los Angeles Capital Management LLC’s holdings in Beacon Roofing Supply were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd lifted its holdings in Beacon Roofing Supply by 20.1% in the 4th quarter. Quadrature Capital Ltd now owns 52,012 shares of the company’s stock valued at $4,526,000 after purchasing an additional 8,697 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after acquiring an additional 203 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Beacon Roofing Supply by 49.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 70,103 shares of the company’s stock worth $6,100,000 after acquiring an additional 23,103 shares during the period. Vanguard Group Inc. raised its holdings in Beacon Roofing Supply by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock valued at $536,502,000 after buying an additional 539,785 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Beacon Roofing Supply by 11.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock valued at $52,411,000 after buying an additional 62,690 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $93.97 on Friday. The company has a market cap of $5.98 billion, a PE ratio of -149.16 and a beta of 1.58. The company has a fifty day moving average price of $96.36 and a two-hundred day moving average price of $90.84. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.87 and a quick ratio of 1.02. Beacon Roofing Supply, Inc. has a 12 month low of $68.50 and a 12 month high of $103.75.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. Research analysts expect that Beacon Roofing Supply, Inc. will post 7.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on BECN. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Truist Financial increased their price objective on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. BMO Capital Markets increased their price objective on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Finally, StockNews.com downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Moderate Buy” and an average target price of $109.45.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the sale, the executive vice president now directly owns 176 shares in the company, valued at $16,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company 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.