Federated Hermes Inc. Purchases 6,974 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Federated Hermes Inc. raised its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,286 shares of the company's stock after buying an additional 6,974 shares during the quarter. Federated Hermes Inc. owned about 0.15% of Beacon Roofing Supply worth $9,273,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in Beacon Roofing Supply in the 4th quarter valued at $31,000. Quarry LP lifted its stake in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after buying an additional 197 shares during the period. PNC Financial Services Group Inc. grew its position in Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after buying an additional 163 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Beacon Roofing Supply by 26.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after acquiring an additional 150 shares during the period. Finally, Principal Securities Inc. raised its holdings in Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after acquiring an additional 196 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank of Canada cut Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and boosted their price objective for the company from $124.00 to $124.35 in a research report on Wednesday, April 2nd. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Loop Capital reiterated a "hold" rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research report on Friday, March 21st. BMO Capital Markets dropped their price target on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Finally, Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $122.10.

Insiders Place Their Bets

In other news, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the transaction, the executive vice president now owns 463 shares of the company's stock, valued at $57,231.43. This represents a 97.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction on Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the sale, the insider now directly owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. This trade represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is currently owned by insiders.

Beacon Roofing Supply Price Performance

Shares of BECN traded up $0.03 on Wednesday, hitting $123.16. The company's stock had a trading volume of 360,165 shares, compared to its average volume of 1,111,935. The company has a market capitalization of $7.61 billion, a PE ratio of 21.05 and a beta of 1.31. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $124.99. The company has a 50 day moving average price of $119.85 and a 200 day moving average price of $109.60. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

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

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.