Hennion & Walsh Asset Management Inc. Has $293,000 Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Hennion & Walsh Asset Management Inc. boosted its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 45.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,239 shares of the company’s stock after buying an additional 1,012 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Beacon Roofing Supply were worth $293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp increased its holdings in shares of Beacon Roofing Supply by 5.8% during the fourth quarter. Mackenzie Financial Corp now owns 8,077 shares of the company’s stock valued at $703,000 after acquiring an additional 445 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Beacon Roofing Supply by 28.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,044 shares of the company’s stock valued at $874,000 after acquiring an additional 2,248 shares in the last quarter. Xponance Inc. boosted its holdings in Beacon Roofing Supply by 12.3% during the 4th quarter. Xponance Inc. now owns 3,723 shares of the company’s stock worth $324,000 after acquiring an additional 408 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Beacon Roofing Supply by 27.7% in the 4th quarter. Handelsbanken Fonder AB now owns 15,695 shares of the company’s stock worth $1,366,000 after acquiring an additional 3,400 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Beacon Roofing Supply by 39.6% in the fourth quarter. California Public Employees Retirement System now owns 64,453 shares of the company’s stock valued at $5,609,000 after purchasing an additional 18,271 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Price Performance

NASDAQ BECN opened at $87.33 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47. The company has a market cap of $5.55 billion, a PE ratio of -138.62 and a beta of 1.58. Beacon Roofing Supply, Inc. has a 52 week low of $68.50 and a 52 week high of $105.42. The firm’s 50-day simple moving average is $91.86 and its two-hundred day simple moving average is $92.78.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 25.83%. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the company posted $2.66 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts predict that Beacon Roofing Supply, Inc. will post 7.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BECN shares. Truist Financial boosted their price target on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Stephens decreased their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada cut their price objective on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Robert W. Baird cut their price target on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and a consensus price target of $111.30.

Insider Transactions at Beacon Roofing Supply

In related news, CFO Prithvi Gandhi acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $82.29 per share, for a total transaction of $411,450.00. Following the purchase, the chief financial officer now owns 5,000 shares in the company, valued at approximately $411,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Prithvi Gandhi bought 5,000 shares of Beacon Roofing Supply stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $82.29 per share, with a total value of $411,450.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $411,450. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $85.00, for a total transaction of $138,295.00. Following the completion of the sale, the executive vice president now directly owns 320 shares in the company, valued at $27,200. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

About Beacon Roofing Supply

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.