Livforsakringsbolaget Skandia Omsesidigt Boosts Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 24.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,900 shares of the company’s stock after acquiring an additional 4,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Beacon Roofing Supply were worth $1,806,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Beacon Roofing Supply by 14.1% during the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after purchasing an additional 872,216 shares during the period. Boston Partners boosted its holdings in Beacon Roofing Supply by 79.6% in the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Beacon Roofing Supply during the second quarter valued at about $39,606,000. Jupiter Asset Management Ltd. increased its stake in Beacon Roofing Supply by 1,293.8% during the first quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock worth $39,150,000 after acquiring an additional 370,756 shares during the last quarter. Finally, Zimmer Partners LP purchased a new position in shares of Beacon Roofing Supply in the 1st quarter worth about $35,777,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $91.85 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. The company’s fifty day moving average price is $86.35 and its two-hundred day moving average price is $92.68. The firm has a market capitalization of $5.68 billion, a P/E ratio of -150.57 and a beta of 1.55. Beacon Roofing Supply, Inc. has a 12 month low of $68.50 and a 12 month high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last issued 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 26.02%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the company posted $2.66 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.37 earnings per share for the current fiscal 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 on Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the transaction, the executive vice president now directly owns 320 shares in the company, valued at $27,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Beacon Roofing Supply news, CFO Prithvi Gandhi bought 5,000 shares of the stock in a transaction 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 purchase, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $411,450. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the completion of the transaction, the executive vice president now directly owns 320 shares of the company’s stock, valued at $27,200. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BECN. Royal Bank of Canada decreased their target price 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. Robert W. Baird dropped their price objective on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Stephens reduced their target price 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.78.

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.