Daiwa Securities Group Inc. Makes New $152,000 Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Daiwa Securities Group Inc. purchased a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,500 shares of the company’s stock, valued at approximately $152,000.

Other institutional investors have also recently bought and sold shares of the company. KBC Group NV boosted its holdings in shares of Beacon Roofing Supply by 20.8% during the third quarter. KBC Group NV now owns 1,728 shares of the company’s stock worth $149,000 after acquiring an additional 297 shares during the period. Huntington National Bank boosted its holdings in shares of Beacon Roofing Supply by 14.1% during the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after acquiring an additional 206 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Beacon Roofing Supply by 21.1% during the third quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock worth $18,528,000 after acquiring an additional 37,347 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Beacon Roofing Supply by 18.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock worth $83,239,000 after acquiring an additional 152,030 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Beacon Roofing Supply by 1.4% during the third quarter. Thrivent Financial for Lutherans now owns 162,694 shares of the company’s stock worth $14,061,000 after acquiring an additional 2,284 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 0.3 %

NASDAQ BECN opened at $118.34 on Monday. The business has a fifty day moving average price of $115.41 and a two-hundred day moving average price of $103.53. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $121.42. The stock has a market capitalization of $7.29 billion, a PE ratio of 20.23 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Equities analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BECN. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. StockNews.com initiated coverage on Beacon Roofing Supply in a research note on Monday. They issued a “sell” rating for the company. JPMorgan Chase & Co. boosted their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Finally, Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $119.95.

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.