DekaBank Deutsche Girozentrale Makes New $5.08 Million Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

DekaBank Deutsche Girozentrale bought a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 55,703 shares of the company’s stock, valued at approximately $5,075,000. DekaBank Deutsche Girozentrale owned 0.09% of Beacon Roofing Supply at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Caprock Group LLC boosted its stake in shares of Beacon Roofing Supply by 1.3% in the first quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock valued at $860,000 after purchasing an additional 111 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Beacon Roofing Supply by 28.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after purchasing an additional 116 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of Beacon Roofing Supply by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock valued at $803,000 after purchasing an additional 156 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Beacon Roofing Supply by 1.5% in the first quarter. QRG Capital Management Inc. now owns 10,475 shares of the company’s stock valued at $1,027,000 after purchasing an additional 157 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake 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 during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Prithvi Gandhi acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 in the company, valued at $411,450. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Christopher Carl Nelson sold 2,955 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $91.11, for a total value of $269,230.05. Following the completion of the transaction, the executive vice president now owns 320 shares in the company, valued at approximately $29,155.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Prithvi Gandhi acquired 5,000 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $82.29 per share, with a total value of $411,450.00. Following the transaction, the chief financial officer now owns 5,000 shares in the company, valued at approximately $411,450. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Stock Up 2.4 %

Shares of NASDAQ:BECN opened at $86.58 on Wednesday. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of -137.43 and a beta of 1.55. Beacon Roofing Supply, Inc. has a 1-year low of $68.50 and a 1-year high of $105.42. The company’s fifty day moving average is $89.72 and its two-hundred day moving average is $92.84. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Stephens cut their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada cut their price target on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. 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 investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.