B. Metzler seel. Sohn & Co. AG Boosts Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

B. Metzler seel. Sohn & Co. AG increased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,792 shares of the company's stock after acquiring an additional 6,677 shares during the period. B. Metzler seel. Sohn & Co. AG owned about 0.09% of Beacon Roofing Supply worth $5,769,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Beacon Roofing Supply in the fourth quarter valued at approximately $94,573,000. Janus Henderson Group PLC raised its holdings in Beacon Roofing Supply by 1,449.0% during the 3rd quarter. Janus Henderson Group PLC now owns 615,593 shares of the company's stock valued at $53,205,000 after buying an additional 575,852 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Beacon Roofing Supply during the 4th quarter valued at $24,162,000. Blue Grotto Capital LLC bought a new stake in Beacon Roofing Supply in the 4th quarter worth $23,726,000. Finally, Spruce House Investment Management LLC grew its holdings in Beacon Roofing Supply by 97.1% in the 3rd quarter. Spruce House Investment Management LLC now owns 203,000 shares of the company's stock worth $17,545,000 after acquiring an additional 100,000 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BECN has been the subject of a number of analyst reports. Raymond James lowered shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a report on Friday, March 21st. Stifel Nicolaus cut Beacon Roofing Supply from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. BMO Capital Markets cut their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Benchmark restated a "buy" rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Finally, Zelman & Associates cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $122.10.

Remove Ads

Beacon Roofing Supply Stock Down 0.9 %

BECN traded down $1.14 during midday trading on Friday, reaching $122.50. The company's stock had a trading volume of 7,065,271 shares, compared to its average volume of 1,047,059. The stock's 50-day moving average is $119.09 and its 200-day moving average is $107.05. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $123.90. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 20.95 and a beta of 1.31. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. As a group, research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Beacon Roofing Supply Company 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.