Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Acquired by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 762,007 shares of the company’s stock after acquiring an additional 99,350 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 1.20% of Beacon Roofing Supply worth $74,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Summit Trail Advisors LLC increased its position in shares of Beacon Roofing Supply by 1.9% in the fourth quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock worth $570,000 after acquiring an additional 121 shares in the last quarter. SummerHaven Investment Management LLC grew its position in Beacon Roofing Supply by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock worth $749,000 after purchasing an additional 129 shares in the last quarter. Victory Capital Management Inc. raised its stake in Beacon Roofing Supply by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 26,750 shares of the company’s stock valued at $2,328,000 after purchasing an additional 191 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Beacon Roofing Supply by 145.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after purchasing an additional 203 shares in the last quarter. Finally, Meritage Portfolio Management boosted its position in shares of Beacon Roofing Supply by 5.7% in the fourth quarter. Meritage Portfolio Management now owns 3,888 shares of the company’s stock worth $338,000 after buying an additional 210 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Loop Capital boosted their price target on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Truist Financial raised 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. Finally, Benchmark initiated coverage on shares of Beacon Roofing Supply in a research report on Thursday, April 18th. They issued a “buy” rating and a $135.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.45.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock traded up $0.75 during midday trading on Tuesday, hitting $87.59. The company had a trading volume of 38,351 shares, compared to its average volume of 701,140. Beacon Roofing Supply, Inc. has a 1-year low of $68.50 and a 1-year high of $103.75. The business’s 50 day simple moving average is $95.81 and its two-hundred day simple moving average is $91.32. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 1.47.

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

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.