Boston Partners Grows Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Boston Partners grew its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,531,106 shares of the company's stock after buying an additional 59,630 shares during the period. Boston Partners owned 7.32% of Beacon Roofing Supply worth $462,417,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. FMR LLC lifted its position in shares of Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company's stock valued at $556,253,000 after buying an additional 963,633 shares in the last quarter. State Street Corp lifted its position in shares of Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company's stock valued at $127,182,000 after buying an additional 15,505 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Beacon Roofing Supply by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company's stock valued at $103,011,000 after buying an additional 20,372 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Beacon Roofing Supply by 2.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company's stock valued at $100,076,000 after buying an additional 22,122 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of 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 in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock traded down $0.06 during trading hours on Friday, reaching $123.77. The company's stock had a trading volume of 11,309,325 shares, compared to its average volume of 874,003. The firm has a 50 day moving average price of $117.35 and a 200-day moving average price of $104.59. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $123.90. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock has a market cap of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its earnings results 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 return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. On average, analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

BECN has been the topic of a number of research analyst reports. StockNews.com assumed coverage on Beacon Roofing Supply in a report on Monday, March 17th. They issued a "sell" rating on the stock. Loop Capital reissued a "hold" rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday. Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their target price for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Benchmark reiterated a "buy" rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Finally, BMO Capital Markets reduced their price target on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply currently has an average rating of "Hold" and a consensus target price of $120.95.

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.