Ensign Peak Advisors Inc Trims Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Ensign Peak Advisors Inc lowered its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 49.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,011 shares of the company’s stock after selling 17,360 shares during the period. Ensign Peak Advisors Inc’s holdings in Beacon Roofing Supply were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantedge Capital Pte Ltd purchased a new position in shares of Beacon Roofing Supply during the 4th quarter worth approximately $2,498,000. Capstone Investment Advisors LLC purchased a new stake in shares of Beacon Roofing Supply in the 1st quarter valued at $1,664,000. Benson Investment Management Company Inc. purchased a new stake in shares of Beacon Roofing Supply in the 1st quarter valued at $3,807,000. Goldman Sachs Group Inc. lifted its stake in Beacon Roofing Supply by 11.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock worth $52,411,000 after acquiring an additional 62,690 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Beacon Roofing Supply during the 4th quarter valued at about $711,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

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

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $87.72 on Friday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of -139.24 and a beta of 1.55. Beacon Roofing Supply, Inc. has a 52-week low of $68.50 and a 52-week high of $105.42. The company has a quick ratio of 1.09, a current ratio of 1.90 and a debt-to-equity ratio of 1.75. The stock has a 50 day moving average price of $87.97 and a 200 day moving average price of $92.75.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the company posted $2.66 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Research analysts predict that Beacon Roofing Supply, Inc. will post 7.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on BECN shares. Stephens dropped their price objective on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Royal Bank of Canada dropped their price target on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Robert W. Baird reduced their price objective on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Moderate Buy” and a consensus target price of $111.30.

Beacon Roofing Supply 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.