Dimensional Fund Advisors LP Has $217.80 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Dimensional Fund Advisors LP trimmed its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 26.0% during the second quarter, Holdings Channel reports. The firm owned 2,406,623 shares of the company’s stock after selling 846,745 shares during the period. Dimensional Fund Advisors LP’s holdings in Beacon Roofing Supply were worth $217,804,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Beacon Roofing Supply by 14.1% in the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after buying an additional 872,216 shares in the last quarter. Norges Bank acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at $59,850,000. Boston Partners grew its holdings in shares of Beacon Roofing Supply by 79.6% in the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after purchasing an additional 569,627 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth about $33,416,000. Finally, Jupiter Asset Management Ltd. lifted its holdings in Beacon Roofing Supply by 1,293.8% during the 1st quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock valued at $39,150,000 after purchasing an additional 370,756 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Down 1.4 %

Shares of NASDAQ BECN opened at $85.38 on Thursday. Beacon Roofing Supply, Inc. has a 1 year low of $68.50 and a 1 year high of $105.42. The firm’s 50-day moving average is $89.60 and its 200-day moving average is $92.79. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $5.43 billion, a PE ratio of -135.52 and a beta of 1.55.

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BECN. Robert W. Baird decreased their price objective on shares of 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. Royal Bank of Canada dropped their price target on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Finally, Stephens decreased their target price on 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.30.

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.